Nov. 25 morning

All information and advice provided here is for educational purposes only and should not be considered specific investment advice. Sell Stop GBPUSD 1.6178, SL 1.6228, P1= 1.6163, P2= 1.6153 Sell Stop EURUSD 1.3498, SL 1.3538, P1= 1.3478, P2= 1.3458 Buy Stop NZDUSD 0.8231 SL0.8178, P1= 0.8245, P2= 0.8255

Who makes profit in Forex?

Let’s cover the basics. During trading hours each currency pair at any given moment has two prices: Bid and Ask. The Bid is the price at which you can sell and the Ask is the price at which you can buy. For example, the EURUSD pair might be quoted as 1.3501-1.3503 meaning that you can … [Read more…]

How do I trade forex in my spare time?

For me, the spare time trading is exactly what it sounds like. All my trades are based on simple technical analysis except for trading on news. The process is pretty simple. The most activity in forex trading starts around 8:00 – 8:30 am EST when North American markets open. Therefore, on weekdays I start my day … [Read more…]

Why to trade Forex?

Whether to trade or not to trade is a strictly personal decision. But for those that do want to trade there are the following advantages in Forex: 1. The 24-hours operation during weekdays make it perfect for part-time trading.     The forex opens at 5 pm EST on Sunday and stays open until 5 pm … [Read more…]

What is FOREX and how does it work?

FOREX stands for Foreign Exchange. Unlike stocks and commodities markets, foreign exchange is completely decentralized. There are no formal exchanges where transactions take place. Practically all forex trading is “over-the-counter” and transactions are done over the phone, with a broker, or by electronic means. Therefore, forex is rather a general term combining all worldwide financial … [Read more…]

Nov. 22 morning

Today is Friday, which is a short day of trading before the weekend. I don’t see any good setups this morning and therefore will be to playing it safe. EURUSD   Closed the open position @ 1.3518 for a round profit of 40 pips. USDCAD    Speculative Buy on news @ 1.0571 for a very short-term trade. No … [Read more…]