Forex FAQ – The Complete Forex Beginners Guide

Short Answers To Most Common Forex Questions

We are happy to introduce the new e-book by Dave Hughe. This book is offered for FREE for 3 days only from Sat., Feb. 28 until Mo., Mar. 2. The regular price is $4.99

Download the e-book for FREE from Amazon: CLICK HERE

If you like the book, please leave a few words in the Amazon’s Review section. We will also be happy to hear any comments or suggestions from you.

Enjoy!

Another Profitable Trading Week: +74 pips profit

Just one Forex trading signal was triggered today:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Feb 27, 2015 at 8:05 AM
Subject: New order
To:
AUDCAD Sell 0.9749 SL 0.9801 P1= 0.9732 P2= 0.9712

The price had troubles going down therefore we closed these orders at a small loss rather than waiting for further developments.

None of our Forex signals was triggered Monday through Wednesday.

Forex Signals to short the Euro today fared pretty well:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 26, 2015 at 6:01 AM
Subject: February 26
To:
EURGBP Sell 0.7299 SL 0.7331 P1= 0.7283 P2= 0.7273

Both profit targets were reached and the 3rd unit was stopped out at 0.9286:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 26, 2015 at 7:12 AM
Subject: New order
To:
EURJPY Sell 134.68 SL 135.15 P1= 134.46 P2= 134.32

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 26, 2015 at 7:52 AM
Subject: New order
To:
EURUSD Sell 1.1299 SL 1.1355 P1= 1.1282 P2= 1.1262

We had to cancel this signal due to the overextended risk at that time. But otherwise the signal worked as shown in the chart below. Both profit targets were reached with the 3rd unit having a trailing stop.

Today’s Forex signal to short CADJPY made +94 pips of profit.

None of our Forex signals were triggered on Thursday. Today we shorted the CADJPY currency pair. In that trade, both profit targets were reached and our trailing stop-loss order was triggered at 94.71 (see the actual signal and the chart below):

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Feb 20, 2015 at 8:08 AM
Subject: New order
To:
CADJPY Sell 94.98 SL 95.56 P1= 94.73 P2= 94.56

U.S. banks were closed on Monday in observance of Presidents’ Day

U.S. banks constitute a substantial part of the Forex trading volume. When they are closed the market is less liquid, which can lead to abnormal volatility and unpredictable price moves. Therefore we prefer not to trade on such days.

Our today’s Forex signal was not triggered and had been cancelled

This week the Forex signals were as follows:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Feb 13, 2015 at 8:35 AM
Subject: New order
To:
USDCAD Sell 1.2469 SL 1.2525 P1= 1.2449 P2= 1.2426

This trade reached both profit targets and the third unit was trail-stopped just above the first profit target:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 12, 2015 at 9:47 AM
Subject: New order
To:
USDJPY Sell 118.98 Sl 119.55 P1= 118.75 P2= 118.55

This trade reached both profit targets. The third unit was trail-stopped:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 12, 2015 at 8:56 AM
Subject: New order
To:
GBPCAD Buy 1.9311 SL 1.9249 P1= 1.9336 P2= 1.9356

This trade did not work as expected and was stopped out.

From: Dave Hughe <plainfx@gmail.com>
Date: Wed, Feb 11, 2015 at 8:13 AM
Subject: New order
To:
EURAUD Buy 1.4651 SL 1.4559 P1= 1.4691 P2= 1.4718

This trade reached the first profit target. The second and third unis were stopped with small profit:

From: Dave Hughe <plainfx@gmail.com>
Date: Wed, Feb 11, 2015 at 6:29 AM
Subject: February 11
To:
EURUSD Sell 1.1294 SL 1.1341 P1= 1.1276 P2= 1.1253

The first profit target was reached. The second and third units were stopped out at different prices:

From: Dave Hughe <plainfx@gmail.com>
Date: Mon, Feb 9, 2015 at 7:24 AM
Subject: February 9
To:
AUDJPY Buy 92.75 SL 92.29 P1= 92.95 P2= 93.34

The price reached the first profit target and started to slide down. We closed the remaining 2 units with small profits:

• 24-hour operation
• High leverage
• Fractional lot trading
• Low transaction costs
• Huge liquidity
• No-gaps trading Monday through Friday.
• No margin calls
• Limited number of currency pairs to track as opposed to thousands of stocks

• Forex is the only financial market open 24 hours 5 days a week

• Forex is the most liquid market in the world averaging over $5 trillion per day (see also How Big Is Forex?)

• Forex has low transaction costs – most brokers include their commissions in the spread. There are no clearing fees, no exchange fees, and no government fees

• High leverage and fractional lot trading effectively eliminate barriers to entry. One can start trading Forex with as little as $25

• There are no margin calls in Forex unlike in stocks and futures markets

• Selling short in Forex is just as easy as buying long. There is no uptick rule such as in stocks trading

• There are no limits on the size of your position unlike in the futures markets

• Due to the 24-hour trading there are rarely any gaps in prices except over the weekend

• The enormous size of Forex makes it impossible to manipulate

Our Wednesdays Forex signal to sell short USDJPY did not perform as expected. This trade was closed with -75 pips loss. No signals were triggered today.

Unfortunately, losing is an indispensable part of Forex trading or any other trading for that matter.

None of our Forex signals were triggered today nor yesterday.