You’ve probably heard this phrase a lot of times and you haven’t manage to understand it. Also, even though you manage to understand, you don’t really find a way to apply it, so your actions will evolve for the better. Today we’ll cover this topic related to market psychology and mindset of trading and hopefully, you … [Read more…]
In order to understand better the market psychology, this time we will discuss another interesting concept, which is the risk aversion. The current economic context is another reason why we want to approach this subject. The global economy had been expanding since 2011 and since 2009 in the United States. A recession is something normal … [Read more…]
The trading strategy a forex trader chooses can be a defining tool for the future positive performance. This material had been designed for beginning forex traders that are searching for an effective trading strategy. What we need to mention from the start is that this strategy, like any other one, should be tested first. Forex … [Read more…]
The Canadian Dollar has been trading under pressure as tariffs could weigh on the currency. The Bank of Canada delivered the widely expected lack of change, leaving the setting for the overnight rate at 1.25%. While higher rates over time remain implied by their economic outlook, they repeated that they will be cautious in considering … [Read more…]
We won’t talk about any strategy or economic subject this time. Instead, we want to focus on something that is more like a psychological skill professional and successful traders manage to develop over time. It is in their mindset to have this approach and we’ll talk about it in a few seconds. What we are … [Read more…]
For those of you that heard about Jesse Livermore, you will find a little weird the analogy with forex trading. However, his methodology was focused on the technical aspects of price and that is why you may find some useful information which could be applied to trading. If you really want to learn more about … [Read more…]
Today we’ll talk about a pattern that occurs many times in the forex market, on most of the pairs and on any time frame. We will describe the parabolic price structure and how you could use it for trading. However, we must begin by saying there are many forms of patterns that occur over and … [Read more…]
Our GBPUSD buy signal made +95 pips profit: From: Dave Hughe <plainfx@gmail.com> Date: Tue, Oct 31, 2017 at 8:50 AM Subject: Oct. 31 To: GBPUSD Buy 1.3224 SL 1.3189 P1= 1.3244 P2= 1.3274 This signal reached both profit targets. The stop-loss order for the remaining 3rd unit had been upgraded and later triggered at 1.3249 for the … [Read more…]
We sent out the following Forex signal today: From: Dave Hughe <plainfx@gmail.com> Date: Tue, Oct 31, 2017 at 8:50 AM Subject: Oct. 31 To: GBPUSD Buy 1.3224 SL 1.3189 P1= 1.3244 P2= 1.3274 So far, this signal has reached its first profit target making +20 pips profit. Now we updated stop-loss orders to the break even price: From: Dave Hughe <plainfx@gmail.com> … [Read more…]
We sent out the signal to short USDJPY today: From: Dave Hughe <plainfx@gmail.com> Date: Mon, Oct 30, 2017 at 9:12 AM Subject: New order To: USDJPY Sell 113.49 SL 113.70 P1= 113.26 P2= 113.12 Later we updated the stop-loss to 113.55: From: Dave Hughe <plainfx@gmail.com> Date: Mon, Oct 30, 2017 at 9:20 AM Subject: USDJPY SL 113.55 To: