Wednesday, June 13, 2007
A key point to fit in your forex trading style
A key point to fit in your forex trading system -
I was reading an ebook on Forex Trading the other day. It was full of trading strategies. Ofcourse not all strategies fit trading style of everyone. Some are for forex day trading and some for swing trading.
However there is one point that caught my attention on money management - "Never let a profitable situation end in a loss" This means that if your open currency trade is running in profit of lets say 25 pips, adjust its stop to breakeven so that if the currency pair turns its trend direction, it doesn't end in a losing proposition.
This is a very important & vital point. Never ever let your trade be like that at one point it was in +30 pips and next moment it hits your stop loss of 45 pips. Protect the profits by adjusting the stops.
Meanwhile speaking on strategies, Forex Trading Machine is a PDFT (Price Driven Forex Trading) technique. Many of you have asked if it is suitable for you. My answer is that it depends your trading style. It mentions 3 strategies whic are very innovative and are extremely successful.
Some of these are applicable as day trading and rest is swing trading. Since this ebook mentions system that use price rather than technical indicators, its definitely a must for all those who are not comfortable with the technical indicators.
Avi Frister has really put a lot of thought in coming up with this ebook. He has also cme up with some videos to help you understand the system. Its worth atleast visiting that website and check what all is contained in that forex trading ebook
Thats all in this message...Visit again to learn more on the exciting world of currency trading.
I was reading an ebook on Forex Trading the other day. It was full of trading strategies. Ofcourse not all strategies fit trading style of everyone. Some are for forex day trading and some for swing trading.
However there is one point that caught my attention on money management - "Never let a profitable situation end in a loss" This means that if your open currency trade is running in profit of lets say 25 pips, adjust its stop to breakeven so that if the currency pair turns its trend direction, it doesn't end in a losing proposition.
This is a very important & vital point. Never ever let your trade be like that at one point it was in +30 pips and next moment it hits your stop loss of 45 pips. Protect the profits by adjusting the stops.
Meanwhile speaking on strategies, Forex Trading Machine is a PDFT (Price Driven Forex Trading) technique. Many of you have asked if it is suitable for you. My answer is that it depends your trading style. It mentions 3 strategies whic are very innovative and are extremely successful.
Some of these are applicable as day trading and rest is swing trading. Since this ebook mentions system that use price rather than technical indicators, its definitely a must for all those who are not comfortable with the technical indicators.
Avi Frister has really put a lot of thought in coming up with this ebook. He has also cme up with some videos to help you understand the system. Its worth atleast visiting that website and check what all is contained in that forex trading ebook
Thats all in this message...Visit again to learn more on the exciting world of currency trading.
Labels: 5 EMA forex trading system, avi frister, currency trading, forex pips, forex trading ebook, forex trading machine, stop loss
