Here is step by step guide: 1. If price is close to recent high or low then place SL 5-10 pips above or below that point. This is very important. Prices do go back to test recent highs and lows and we need to set SL as per the recent price action. Trading on daily chart is bit tricky where such SL can be even 30-40 pips more on top of your static 100 pip SL. 2. Another point to take care is that don’t place SL […]
More info
Forex trading is a terrific way to make money at home if you do it right. The foreign currency exchange market can be a lucrative way to make money from home, and all that is needed to start is a computer and enough cash to open up a Forex account with a broker. For this business to be successful, you should have a certain amount of knowledge concerning the Forex market and trading on it. Finding a good broker is very important when trading on the Forex […]
More info
Forex trading, as one of the important markets worldwide, is a very profitable opportunity and it can bring enormous earnings to traders. Forex trading can also be very risky, especially to the new inexperienced traders. That is why every trader must trade smart and improve his/her own trading tactic that works and follow it consistently. A very good way to understand forex trading better is to start trading with demo accounts. These demo accounts symbolize simulation of actual trading where you trade with “virtual” money instead of […]
More infoTechnical analysis of currency movements is now, more than ever, part of the Forex market. As time has passed, different ways of collecting and displaying data have arisen. These differing ways can be taken in isolation to either create or back up a strategy, or can be combined in order to read how the market has arrived at its present point, and how it is likely to move forward. This enables more confident predictions and sounder investments. As time goes on, more data is collected and trends […]
More info