Our long USDCAD trade made +181 pips of profit. The original Forex signal is shown below: ———- Forwarded message ———- From: Dave Hughe <plainfx@gmail.com> Date: Mon, Apr 11, 2016 at 7:39 AM Subject: April 11 To: USDCAD sell 1.2949 SL 1.3033 P1= 1.2914 P2= 1.2866 This trade reached both profit targets. The third unit’s stop-loss … [Read more…]
The formula of success in trading and investing is simple: 1. Make more money than you lose 2. Never lose more than your account can afford 3. Compound your wins The best way to learn anything is by doing. Practically all Forex brokers provide free demo accounts where you can trade in real time with … [Read more…]
Learn about each style and see which ones appeal to you. Then learn deeper those styles that you like and try to trade them in a demo account. That will give you a good idea of what you really like or dislike.
There are no taxes in Forex. Depending on the country of your residence, you might have to pay taxes on your winnings.
There are trading strategies, such as Momentum, Swing trading, Trend Following, and many more. Each of them can be profitable. The size of the profit depends not on the type of the strategy but on the strategy itself. Martingale is a money management system originally used in gambling. In this system, the betting starts after … [Read more…]
There are two general types of retail Forex brokers: Dealing Desk Brokers, also called Market Makers, provide liquidity to the market by offering both buy and sell quotes (Bid and Ask) and taking the other side of the trade. That is the reason they are also called Market Makers. Dealing desk brokers do not charge … [Read more…]
I don’t see the difference between betting and gambling. You can do either one with intelligence by trying to increase your chances of winning. In the same way, when trading Forex or any other financial market for that matter, you can gamble by placing random orders or you can use a profitable trading system with … [Read more…]
For the purposes of technical analysis you can use any of the 4 prices and their combinations: open, close, high and low. Charts are usually plotted using closing prices for the time period selected. Trend lines are drawn by connecting highs or lows. It’s not uncommon to plot moving averages of high, low and close … [Read more…]
There are basically 3 ways to short a currency: 1. You can sell a contract for that currency in a Futures Market. 2. You can sell an index of that currency. For example, if you believe that the US dollar is going to weaken, you can sell a US dollar index, which measures the value … [Read more…]
This week the result is break even.