The up to date weekly Forex trading results since the start of this blog: Week 1: +231 pips Week 2: – 19 pips Week 3: +415 pips Week 4: +366 pips Week 5: +137 pips Week 6: +150 pips Week 7: + 220 pips Week 8: +155 pips Week 9: + 23 pips Week 10: … [Read more…]
We closed the last unit of the USDCAD trade today realizing +67 pips profit. This trade brought us +143 pips of profit (see the chart below): We also went long EURUSD today but were stopped out for a total loss of -135 pips.
Our USDCAD trade brought in +76 pips profit plus one unit is still open:
We went long USDCAD this morning: USDCAD Buy 1.1015 SL 1.0969 P1= 1.1044 P2= 1.1062
The trailing stop of our 3rd USDCAD unit was triggered this morning realizing additional +58 pips of profit (see the previous post).
NZDUSD & USDCAD trades that we opened this morning brought in +97 pips of profit so far: 1) USDCAD trade: +50 pips profit so far Both profit targets were reached. One more unit is still open with the stop-loss at 1.0949 (see the chart below): 2) NZDUSD trade: +47 pips profit This trade has reached … [Read more…]
The first unit of our USDCAD long position reached its profit target of +13 pips. The stop-loss orders of the remaining 2 units were moved to 1.0907
We went long US dollar today. The signals were as follows: NZDUSD Sell 0.8299 SL 0.8351 P1= 0.8276 P2= 0.8251 USDCAD Buy 1.0911 SL 1.0869 P1= 1.0924 P2= 1.0937
Answer by Dave Hughe: The best way to make money in Forex is to be consistently profitable and compound. In order to become consistently profitable, you need:1) Find or develop a profitable trading system that suits your personality and lifestyle. 2) Use sound money management.3) Be disciplined enough to follow your trading system and money … [Read more…]
Answer by Dave Hughe: Not really. But you need to know what you are doing. Is forex trading more risky than index trading or stock trading? Why?