Archive for December, 2016

  • Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.

    USDCAD LOSS

    I feel better about this trade. I followed my strategy. My stop was much tighter this time. The risk/reward ratio…

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  • Traders call the GBP-USD pair ‘cable’, referring to the submarine telegraph cable placed between the United States and Great Britain in the 1800s.

    GBPUSD PROFIT

    I made 2 poor entries in a matter of minutes. My exit was good, but I should have tried to…

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  • The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of volume of trading, it is by far the largest market in the world.

    USDCAD LOSS

    The Charts line up, but my trade entry was poor. The stop was really wide, and I missed the initial…

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  • The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

    USDCAD LOSS

    Trade did not work. Mistakes I made: No clear resistance on cloud I relied on RSI for resistance and…

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  • A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached

    GBPUSD PROFIT

    I was unable to place any trades last week. Too busy working on other projects. It is nice to be…

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  • EURUSD LOSS

    Another loss on $eurusd. The charts look good to me. Sometimes we just have to hold our hands up. I…

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  • People make money trading forex in several different ways. Scalpers hold positions for no longer than 5 minutes. Other traders may adopt a strategy that lets them analyze their charts once a day to look for opportunities then step away from the markets until the next day. There really is no wrong way to trade forex.

    EURUSD LOSS

    Worked my system. The trade did not breakout using the support. I look to get again if the opportunity allows.

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  • The British Pound against the US Dollar is one of the oldest currency pairings in the world

    GBPUSD PROFIT

    I followed my system all the way through. I was hoping the trade would yield a bigger return. I executed…

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  • The euro (sometimes called “fibre”) is used by over 320 million Europeans and 17 nations in the eurozone (euro area).

    EURUSD BREAKEVEN

    I made so many mistakes in this trade. I was not fully confident about the entry. Some resistance points on…

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  • Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.

    USDCAD LOSS

    The trade setup was good. My timing could have been better on the 1 min chart. The trade would not…

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