Posted by
admin on July 16, 2010 |
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Forex Trading: Limit order 16/07/2010. Sell GBP/CHF @ 1.5970 , SL @ 1.6145 , TP1 @ 1.5875 TP2 @ 1.5810 TP3 @ 1.5740
The pair has been trending downwards and has made a small retracement upwards.
We want to enter the main trend which is still downwards but first wait for a confirmation the trend continues.
The entrance point is located below the last bottom the pair has made on the 4 hour chart.
More aggressive traders could try and short the pair from its current location but they should be advised the retracement upwards might continue higher and a SL of above 1.6170 is recommended for such traders.
The RSI is near 50 in neutral territory.
SL is located above the last top the pair has made yesterday and above the 100 period moving average which is likely to act as a resistance for the pair.
TP’s are located slightly above the support levels the pair has.
All analysis is based on the 4 hours chart.
Current rate: 1.6075
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Posted by
NigelGee on July 15, 2009 |
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Real trading in general, one can have either an exceptionally profitable or extremely disappointing experience, one has to plan properly and execute them in a timely manner so that they can avoid last minute rush and disappointment. Some of the general Forex trading strategies and techniques to avoid Un-comfortable situations that may arise normally in Forex trading especially when you go for big one, isn’t? Here are those techniques to avoid those situations:
The most important thing is that Forex trading is not a gamble game like horse racing or footballs betting, if you think in that way, then just forget about Forex trading, even any trading in general, stocks and shares as well. It’s a trading basically which will be very important for one countries economic status. This is one of the strong factors should be in your mind, you cannot get rich within short span of time, if you think so, then you will expect some lose and get dejected. Normally trading Forex is a long-term goal and benefit, better don’t think it in the short-run, and then you will get your desired result. Don’t count the chickens before it is really hatched! If you do so, you may be ended up with wrong calculations and loss in Forex trading business.
Diversification of amount plays another important factor since it is distributed widely so that it can be balanced because in some case may lose something and in other may be profited. Diversification of money will always balance your Forex trading and moreover even if you invest very little amount of money and wait for some years, definitely it will yield more. It is not only investing big in trading, even small drops become ocean in one day. This is already proven mechanism since your money gets compounded and will give much return.
Another important aspect of trading Forex is that getting more emotions, there is no place for emotions here because it meant business and getting profit out of real trading. The most of the traders do make some common mistakes with their emotions which in turn sometimes they will be safer or most of the time they will be losers. Some traders do trading based on market emotions, if you follow those, then it is not a good practice in Forex trading. A lot of Forex reviews have been written about this, of course there should be some fluctuations, for every fluctuation if you get emotions, then it will not help you in long run especially in Forex trading business, you should have some patience and have to play waiting game to achieve success in this trading business.
There is Un-written rule in Forex trading is to follow the current trend in trading and act accordingly. This will always help in getting up-to-date information about current Forex trading and in turn will give an idea to trade wisely and timely. To know the current trend of Forex trading, a lot Forex reviews have been posted in Forex online system or daily Forex reviews have been written by many experts on topics like Daily Forex review, Review online Forex, Review Forex, etc…
It is always imperative that to test with some of the data in Forex Trading, so that you will not be confused in real time Forex trading since this Forex have complicated system to understand for beginners. Make sure that you are getting consistent profit in your test account and then if you go for real Forex trading, will give more profit, even if you want you can test stocks or share data with Forex trading system.
Now, it’s your turn to follow the above factors to make sizable profit in Forex trading system. Before wind up, just want to tell one thing that, nothing will be achieved without any proper and reasonable efforts with long-term goal in your mind.
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