USDCAD long position: first profit target is reached, stop-loss at break even
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
Plain Forex Trading Club
Mo., Sep. 8. USD long signals today: Sell NZDUSD, Buy USDCAD
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
What is the best way to make money in forex?
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…]
Is forex trading more risky than index trading or stock trading? Why?
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?
How do you lose money in the forex market?
Answer by Dave Hughe: Gambling is the #1 reason in my opinion. By gambling I mean anything other than following a proven trading system. How do you lose money in the forex market?
Fr., Sep. 5. End of week trading results: -234 pips (Total: +4,362 pips)
Losing is an inseparable part of the trading game. This week was not kind for us. We lost -234 pips. This is exactly why money management is of the utmost importance. We discuss dealing with losses in this post: Let’s talk about losses. The up to date weekly Forex trading results since the start of … [Read more…]
Tu., Sep. 2. No signals were triggered today
Our signal was not triggered today and we made no trades.
Plain Forex Trade Copier Results: +37.73% Profit In 3 Months
+37.73% Profit Made since June 1, 2014 in the Plain Forex Trade Copier Real Account. +$538 Profit in 3 months for the account size of $1,426. As the name implies, Plain Forex Trade Copier copies our EXACT TRADES into your MT4 account… The Second Those Trades Are Made. If you were a member of Plain … [Read more…]
Fr., Aug. 29 End of Week Forex Trading Results: +36 pips profit
The total trading result for this week is +36 pips of profit. Prices of major currency pairs spent the most part of this week going sideways in trading ranges with low volatility. If you are new to trading and wondering why everybody keeps talking about the volatility, please read my answer to this question posted … [Read more…]
Th., Aug. 28. USDJPY price ran up on the news triggering our stop-loss orders
USDJPY price ran up on the news triggering our stop-loss orders (see previous posts):