Th., Sep. 11. Forex Signal: Buy USDCAD

September 11, 2014 at 10:26 am

We went long USDCAD this morning:

USDCAD Buy 1.1015 SL 1.0969 P1= 1.1044 P2= 1.1062

Tu., Sep. 9. USDCAD trailing stop hit for additional +58 pips profit (the total for this trade is +108 pips)

September 9, 2014 at 5:47 pm

The trailing stop of our 3rd USDCAD unit was triggered this morning realizing additional +58 pips of profit (see the previous post).

Mo., Sep. 8. Forex Signals & Trades Results: +97 pips

September 8, 2014 at 7:12 pm

NZDUSD & USDCAD trades that we opened this morning brought in +97 pips of profit so far:

1) USDCAD trade: +50 pips profit so far

Both profit targets were reached. One more unit is still open with the stop-loss at 1.0949 (see the chart below):

USDCAD blog sep8

2) NZDUSD trade: +47 pips profit

This trade has reached its first profit target but stopped short before reaching the second one. The stop-loss orders of the remaining 2 units were triggered at 0.8286

NZDUSD trade sep8

 

USDCAD long position: first profit target is reached, stop-loss at break even

September 8, 2014 at 11:01 am

The first unit of our USDCAD long position reached its profit target of +13 pips. The stop-loss orders of the remaining 2 units were moved to 1.0907

Mo., Sep. 8. USD long signals today: Sell NZDUSD, Buy USDCAD

September 8, 2014 at 9:35 am

We went long US dollar today. The signals were as follows:

NZDUSD Sell 0.8299 SL 0.8351 P1= 0.8276 P2= 0.8251

USDCAD Buy 1.0911 SL 1.0869 P1= 1.0924 P2= 1.0937

What is the best way to make money in forex?

September 6, 2014 at 12:47 pm

Answer by Dave Hughe:

The best way to make money in Forex is to be consistently profitable and compound.

In order to become consistently profitable, you need:
1) Find or develop a profitable trading system that suits your personality and lifestyle.
2) Use sound money management.
3) Be disciplined enough to follow your trading system and money management rules to a tee.
4) Lather, rinse, repeat.

What is the best way to make money in forex?

Is forex trading more risky than index trading or stock trading? Why?

September 6, 2014 at 12:46 pm

Answer by Dave Hughe:

Not really. But you need to know what you are doing.

Is forex trading more risky than index trading or stock trading? Why?

How do you lose money in the forex market?

September 6, 2014 at 12:45 pm

Answer by Dave Hughe:

Gambling is the #1 reason in my opinion. By gambling I mean anything other than following a proven trading system.

How do you lose money in the forex market?

Fr., Sep. 5. End of week trading results: -234 pips (Total: +4,362 pips)

September 6, 2014 at 11:36 am

Losing is an inseparable part of the trading game. This week was not kind for us. We lost -234 pips.

This is exactly why money management is of the utmost importance. We discuss dealing with losses in this post: Let’s talk about losses.

The up to date weekly Forex trading results since the start of this blog:

Week 1: +231 pips
Week 2: – 19 pips
Week 3: +415 pips
Week 4: +366 pips
Week 5: +137 pips
Week 6: +150 pips
Week 7: + 220 pips
Week 8: +155 pips
Week 9: + 23 pips
Week 10: –149 pips
Week 11: +465 pips
Week 12: +126 pips
Week 13: + 50 pips
Week 14: +306 pips
Week 15: +201 pips
Week 16: + 11 pips
Week 17: +325 pips
Week 18: + 80 pips
Week 19: –133 pips
Week 20: +380 pips
Week 21: – 32 pips
Week 22: + 66 pips
Week 23: –144 pips
Week 24: +218 pips
Week 25: -109 pips
Week 26: + 51 pips
Week 27: +166 pips
Week 28: +210 pips
Week 29: +157 pips
Week 30: + 52 pips
Week 31: +114 pips
Week 32: +334 pips
Week 33: + 96 pips
Week 34: -207 pips
Week 35: -152 pips
Week 36: +219 pips
Week 37: – 43 pips
Week 38: + 36 pips
Week 39: +188 pips
Week 40: + 36 pips
Week 41: -234 pips

Total: +4,362 pips

Tu., Sep. 2. No signals were triggered today

September 2, 2014 at 9:08 pm

Our signal was not triggered today and we made no trades.