Buy Stop/Limit/market If price hit at 2.0701 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0721 and Stop Loss 2.0671
Sell Stop/Limit/market if price hit at 2.0667
Use trailing stop 15 or Take Profit at 2.0647 and Stop Loss 2.0697
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0629 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0649 and Stop Loss 2.0599
Sell Stop/Limit/market if price hit at 2.0595
Use trailing stop 15 or Take Profit at 2.0575 and Stop Loss 2.0625
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0569 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0589 and Stop Loss 2.0539
Sell Stop/Limit/market if price hit at 2.0535
Use trailing stop 15 or Take Profit at 2.0515 and Stop Loss 2.0565
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
The best way to learn forex is get information about forex trading from many sources. This sources contain information about online forex trading learning, technical and fundamental analysis, forex strategy, trading risk management, psychology of successful trader and the best forex articles.
Basic Fibonaccy Principles
ABCD Forex Strategy
Daily Fozzy Forex Trading Method
A Mechanical Trading System
Buy Stop/Limit/market If price hit at 2.0538 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0558 and Stop Loss 2.0508
Sell Stop/Limit/market if price hit at 2.0504
Use trailing stop 15 or Take Profit at 2.0484 and Stop Loss 2.0534
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0514 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0534 and Stop Loss 2.0484
Sell Stop/Limit/market if price hit at 2.0480
Use trailing stop 15 or Take Profit at 2.0460 and Stop Loss 2.0510
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0530 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0550 and Stop Loss 2.0500
Sell Stop/Limit/market if price hit at 2.0496
Use trailing stop 15 or Take Profit at 2.0476 and Stop Loss 2.0526
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0330 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0350 and Stop Loss 2.0300
Sell Stop/Limit/market if price hit at 2.0296
Use trailing stop 15 or Take Profit at 2.0276 and Stop Loss 2.0326
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0556 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0576 and Stop Loss 2.0526
Sell Stop/Limit/market if price hit at 2.0522
Use trailing stop 15 or Take Profit at 2.0502 and Stop Loss 2.0552
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
The first thing you need to realize is that, it is not easy to make money. As every other endeavor in life, where important rewards are to come after mastering it, you need to work hard. You need to get very well educated and experienced before having the possibility to receive important rewards on it. The key on mastering the Forex market relies on commitment, patience and discipline.
Creating a system is the first big step you need to take care first. Why is this so important? Because you need to build a system that suits your personality, otherwise you are going to find hard to follow it, thus hard to profit from.
A system can be based on technical indicators or what we called a mechanical system or based on experience and intuition or what we call discretionary systems. I highly recommend using and trying first a mechanical system, because discretionary systems are dangerous during the early stages of a Forex trader (can lead to indiscipline.) With experience, on later stages, you will find out which signals work better and which ones to avoid.
The next step in this Forex course is to try your system on a demo account. Most Forex brokers offer a demo account, an account with virtual money. This is an excellent choice to test your trading system as there is no money at risk. In this step you will figure out if the strategy works for you. If you feel comfortable trading it, then it is most likely to produce good results. How much time should you stay in this step? It varies, but you shouldn't go one step further until your system gets consistent profitable results over a period of time. It can take many months, but remember, you need to be patient.
The last stage is trading in a real account with sufficient funds. If you are at this stage, and have passed successfully every prior stage, then you have a chance to make it, go ahead and try it, you need to be confident in yourself and in your system, your strategy have already produced consistent profitable results, there are reasons to believe you are going to make it. Very few traders fail at this stage (if passed successfully prior stages)
Trade 20 times
Not Touched = 2 times
Win : 11 x 20 = 220 pips
Loss : 7 x -30 = -210 pips
Profit = 10 pips
Total Profit from June 14, 2007 until October 19, 2007 = +548 pips
Buy Stop/Limit/market If price hit at 2.0449 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0469 and Stop Loss 2.0419
Sell Stop/Limit/market if price hit at 2.0415
Use trailing stop 15 or Take Profit at 2.0395 and Stop Loss 2.0445
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0433 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0453 and Stop Loss 2.0403
Sell Stop/Limit/market if price hit at 2.0399
Use trailing stop 15 or Take Profit at 2.0379 and Stop Loss 2.0429
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0342 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0362 and Stop Loss 2.0312
Sell Stop/Limit/market if price hit at 2.0308
Use trailing stop 15 or Take Profit at 2.0288 and Stop Loss 2.0338
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Buy Stop/Limit/market If price hit at 2.0446 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0466 and Stop Loss 2.0416
Sell Stop/Limit/market if price hit at 2.0412
Use trailing stop 15 or Take Profit at 2.0382 and Stop Loss 2.0442
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Stop/Market Profit +20 pips
Buy Stop/Limit/market If price hit at 2.0373 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0393 and Stop Loss 2.0343
Sell Stop/Limit/market if price hit at 2.0339
Use trailing stop 15 or Take Profit at 2.0319 and Stop Loss 2.0369
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Stop/Market Loss -30 pips
Download free strategy for Non Farm Payroll (NFP) news release.
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Buy Stop/Limit/market If price hit at 2.0359 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0379 and Stop Loss 2.0329
Sell Stop/Limit/market if price hit at 2.0325
Use trailing stop 15 or Take Profit at 2.0305 and Stop Loss 2.0355
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Limit Loss -30 pips
Buy Stop/Limit/market If price hit at 2.0439 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0411 and Stop Loss 2.0361
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Not Touched
Buy Stop/Limit/market If price hit at 2.0391 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0411 and Stop Loss 2.0361
Sell Stop/Limit/market if price hit at 2.0357
Use trailing stop 15 or Take Profit at 2.0337 and Stop Loss 2.0387
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Buy Stop/Market Profit +20 pips
Buy Stop/Limit/market If price hit at 2.0392 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0412 and Stop Loss 2.0362
Sell Stop/Limit/market if price hit at 2.0358
Use trailing stop 15 or Take Profit at 2.0338 and Stop Loss 2.0388
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Not Touched
Buy Stop/Limit/market If price hit at 2.0434 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0454 and Stop Loss 2.0404
Sell Stop/Limit/market if price hit at 2.0400
Use trailing stop 15 or Take Profit at 2.0380 and Stop Loss 2.0430
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 10.00 GMT
Result : Sell Stop/Market Profit +20 pips
First what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals trading one currency for another.
When you choose to start trading in the Forex market, which is often called the foreign exchange market, you will need to know a little trading vocabulary. Learning specific terms and what they mean are essential before you even think about using real money to trade. You would never get into a pilot's seat and try to fly a plane without ever having taken flying lessons. The same goes for foreign exchange market trading. You need to be fully aware of what you are doing. This is a market that is not quickly learned, so you should never assume that once you jump into it, you will learn as you go. While some people opt to do that, they typically end up losing an adequate sum of money because they were not as prepared as they should have been. Knowing the importance of trading trends and ranges in Forex trading is very important. If you are thinking of trading in the Forex market, be sure you know what these terms mean and their implications.
Trading Trend
When price moves consistently in one direction in the Forex, a trend occurs. When the direction is higher, the trend is often called bullish. When the direction of the price is moving lower, the trend is often called bearish. These terms are relative of course. When you define a trend, you should always remember that price peaks and troughs are in the same direction. When you are dealing with a bearish trend, remember that price highs and lows are moving lower. Likewise when you are dealing with a bullish trend, they are moving higher.
Often when trends occur, it is possible to draw support lines under one that is moving higher (an uptrend). You can also often draw resistant lines above one that is moving lower (a downtrend). Once you see these lines break, it can be assumed that the trend is complete. At this point there is a possibility that the trend will begin to reverse. When it does reverse, you will need to know the pattern of what that entails.
Trend Reversal
When you hear of a trend reversal, it simply means that the direction of market prices is changing. Often you will see trend reversals following a four step pattern. Usually, this includes the market making a new high, the trend line being broken, the market making an intermediate low, and a new rally that does not match the first high. Many times you will see prices break the previous low however. You may come across terms such as Double, Triple Tops, and Bottoms, which are all trend reversal patterns. Head and shoulders patterns are also popular reversal patterns.
Trading Range
The trading range is actually a sideways chart pattern. It is often used to represent a resting period before the original trend is resumed. You may see these when you are charting trends and should know what they imply.
Often trends are very important to investors. Those who engage in trend-following are people who look at major trends and make decisions in the direction of the trend. This can be a good strategy, but you must know a great deal about trends and the market in general in order to use this technique successfully. Beginners are not usually very good at tracking trends and using trend-following techniques. One thing that you should also note is that some price movements are trendless. This means that they have no clear direction, which makes trend-following nearly impossible.
Remember, that in order to fully understand trends, you must be educated in the ways of the market and foreign exchange in general. Beginners should not rely heavily on foreign exchange market trend tracking. Once you get more experience you can begin looking into tracking more and more. However, be aware that different things affect and influence the Forex. These influences can change what people expect trends to be. Therefore, you should be a seasoned trader in order to rely on the trends and ranges alone. Educate yourself on these terms and learn to recognize them in the actual market. After all, learning the terms is one thing and being able to see them in reality is different.
by David Mclauchlan
Buy Stop/Limit/market If price hit at 2.0406 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0426 and Stop Loss 2.0376
Sell Stop/Limit/market if price hit at 2.0372
Use trailing stop 15 or Take Profit at 2.0352 and Stop Loss 2.0402
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 10.00 GMT
Result : Sell Stop/Market Profit +20 pips
Buy Stop/Limit/market If price hit at 2.0342 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0362 and Stop Loss 2.0312
Sell Stop/Limit/market if price hit at 2.0308
Use trailing stop 15 or Take Profit at 2.0288 and Stop Loss 2.0338
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell limit/Market Profit +20 pips
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Buy Stop/Limit/market If price hit at 2.0426 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0446 and Stop Loss 2.0396
Sell Stop/Limit/market if price hit at 2.0392
Use trailing stop 15 or Take Profit at 2.0372 and Stop Loss 2.0422
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Stop/Market Profit +20 pips
Buy Stop/Limit/market If price hit at 2.0449 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0469 and Stop Loss 2.0419
Sell Stop/Limit/market if price hit at 2.0415
Use trailing stop 15 or Take Profit at 2.0395 and Stop Loss 2.0445
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Market Profit +20 pips
Buy Stop/Limit/market If price hit at 2.0489 (GBP-USD)
Use trailing stop 15 or Take Profit at 2.0509 and Stop Loss 2.0459
Sell Stop/Limit/market if price hit at 2.0455
Use trailing stop 15 or Take Profit at 2.0435 and Stop Loss 2.0485
Place your order/pending order between 05.00 GMT - 08.00 GMT
"Always secure your profit with change SL"
Please look at exit strategy
Note : Cancel your pending order if this signal not execution until 15.00 GMT
Result : Sell Stop Loss -30 pips
