Big losses will ruin your forex account! Just don’t let them happen. You can’t make money trading forex unless you control you losses. And the only way to protect yourself from big losses is to use Stop Loss orders. A stop loss order is a simple Buy Stop or Sell Stop order, which you use … [Read more…]
Dec. 2 end of day results
GBPUSD P1 was filled for 16 pips profit, 2 more positions are still open SL 1.6367, which if hit will make this trade a break even USDCAD and EURUSD are still open
USDCAD Buy
USDCAD Buy 1.0646 SL 1.0618 P1= 1.0664 1.0684
EURUSD
EURUSD Sell 1.3519 SL 1.3565 P1= 1.3504 P2= 1.3495
Dec. 2. Good morning!
GBPUSD Sell 1.6359 SL 1.6408 P1= 1.6343 P2= 1.6322
Notice how EURUSD reached both profit targets just as expected
Cancelled both trades before going to sleep but both pairs performed as expected. EURUSD price dropped to 1.3525 reaching both profit targets before bouncing back up. As I said before, there is no reason to get upset for missing an opportunity. Profitable trades in Forex happen every day. One has to be patient and persistent.
Dec. 1
EURUSD Sell 1.3574 SL 1.3616 P1= 1.3554 P2= 1.3534 USDJPY Buy 102.64 SL 102.28 P1= 102.84 P2= 102.94
Making money in Forex is simple.
Yes, making money in forex is simple but not easy. All that one needs for success is to win more than half of trades while keeping the average loss smaller than the average win.
Nov 29 end of week results
With today’s profit of +15 pips the total result for this week becomes -19 pips. Up to date total is 231-19 = +212 pips of profit