There is nothing to report. Really. lol
It looks like everybody on the vacation or something.
Except of those retail scalpers ( it’s truly heaven for them) who think that holy grail
is in the pocket, until the big trend established, … and bye-bye another trading account ..
I’m suggesting do not trade until the president election is over. Or trade with smaller lot
size and be ready for a little disaster,.. that’s what I do.
200 pips for this week magically materialized.. in just 3 trades, not bad.
And 4th trade still in the money, but didn’t reach my TP or modified SL yet.
3 new trades was open at the last hrs. of the trading session this week, and if nothing will developed
by Sunday/Monday, I will close all of them, regardless positions.
Weekly Performance and Market Update, 11-3-12
That’s right, it is a Free Trading Signals,
and before market get closed…
Please notice, that my trades (here at the examples) are very risky and against the main trend.
Which is not great idea at all, on top of this I’m not using stop losses.
Well, I have to be clear here. I’m using stop loss only on big orders (far away from actual price),
and with my conservative entries, when MM did move price away from the previous high/low.
At above examples (aggressive style), my sizes are relatively small,
and I’m not exposing too much, even if price will go against me for a 100-200 pips.
And, I am using loss recovery technique…my secret tactic
So, if market will go against my opened positions,
I’ll open new orders at extremes, but let this worries be for the next week.
Which could be interesting with Election spice.
have a wonderful and safe weekend.
p.s. I might send another update in a day or so..
Free Trading Signals
Trading community on hold. What’s going on?
..Bunch of crap, as usual.. lol
Unemployment claims and manufacturing in US shows some positive side of grows today,
and tomorrow’s Non-Farm promising to be on the same side…
Which means there are moves coming on, which is good, right!?..
And, which way it will go,.. I don’t really care, as I’m TA guy, not Fundamental.
Well, the bottom line is, the Market Makers will use tomorrow’s liquidity
to move market where the most stops are..
If out there are no many stops, than MM will spike either or both ways without much of a move.
In mean time, I closed some longs and do open few shorts with 50-60 pips target and no stop loss..
Will post you on that ‘No Stop Loss” thing later.
Good luck to catch some pips tomorrow morning!
The worst part of Forex Trading is the possibility that you could experience a great loss. This article is designed to help you get a good footing in the Forex Market and to learn some of the ins and outs to making a profit.
Always put some of your forex earnings in your pocket. When you win on trades, remember to lodge a withdrawal order. Enjoy the money you have gained through forex, you deserve it!
One piece of advice that every foreign exchange trader should adhere to is to not give up. Like every trader, you are likely at some point to have a string of poor trades and bad luck. Great traders have something that the rest don’t: dedication. Even if there does not seem to be light at the end of the tunnel, keep walking and you will see it eventually.
When trading in the Foreign Exchange Market, you must take advantage of all types of analysis. You must be familiar with and understand sentimental, fundamental, and technical analysis. For best success, you should be willing to try all three. When you know what you are doing, you can put all three different kinds of analysis into your trading technique.
Watch the news daily and be especially attentive when you see reports about countries that use your currencies. Much of the price swings in the currency markets have to do with breaking news. To quickly capitalize on major news, contemplate alerting your markets with emails or text messages.
To limit the number of trades you lose profit on, utilize stop loss orders. Traders often make the mistake of clinging to a falling position for too long, hoping that the market will come around.
Do not trade against the market if you are new to forex, and if you do decide to, make sure you have the patience to stick with it long term. Trading against the market is a disastrous strategy for beginners. Seasoned pros may be able to get away with it, but it still is not recommended.
Avoid using trading bots or eBooks that “guarantee” huge profits. These products offer you little success, packed as they are with dodgy and untested trading concepts. The authors make their money from selling these products, not through Foreign Exchange trading. Instead of wasting money on possibly dubious products, spend that initial amount of money on a Forex trader who can teach you what you need to know.
Any software that you choose for Foreign Exchange trading must have market analysis capabilities. If you do not have this ability, you won’t be able to tell which currency is the most optimum to exchange with. Try reading reviews to help you choose a good software.
When you begin trading with foreign exchange, don’t follow the leader. Your trading style may be far different than other traders, so be careful to use their analysis as a guideline for trading. Analyze the market yourself to get the best information for trading.
Do the opposite of what you were going to do. Planning will help resist natural impulses.
Make a plan and then follow through with it. A goal and a schedule are two major tools for successful foreign exchange trading. Keep in mind that the timetable you create should have room for error. If this is your first time trading, you will probably make mistakes. Also, take into consideration your time limitations and how much of your day you can spend researching and trading.
If you put all of your trust into an automated trading system but don’t understand how it works, you may put too much of your faith and money into its strategy. This can result in big losses.
Over time your knowledge in the field may have grown enough that you will be able to use it to turn a large profit. Until you become an expert, you should use the advice in this article to make a small, but secure amounts of profit.
Foreign Exchange Trading And Reducing Small Profits
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS DO NOT REPRESENT ACTUAL TRADING.
RISK DISCLAMER: There is a substantial risk of loss in trading. All information that we are providing is strictly for educational and demonstration purposes only. We are not liable for any actions that a subscriber is taking or not taking. A decision to trade in the futures or in the Forex market is made at your own risk.