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foreign exchange risk
Yes, but as a position trader I never use tight stops. Same goes for trailing stops. All very far away from the market not to be taken out by meaningless market noises. Initial stop is always 1% of my total equity, and never commit the whole position at a go but always scale in and scale out.
You can avoid your problem in most cases by leaving the market always by trailing stops, i.e., do not set the profit target. So, any winning trade must be held as long as market does not tell you to leave by hitting your trailing stops. When you enter the market by market signals and leave by stops or trailing stops, it solves the most difficult part of decision making process rather easier for traders.
USD/JPY HINTS
One of the silly rules of thumb in USD/JPY trading is it rarely moves 700-800 pips in a row without 200 pips or more correction in the middle and it almost always retraces back to 350 pips advance point from the start of its 700-800 pips move. All because of liquidity problem in Yen market.
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forex made easy
Some dealers offer a mini-account for as little as $100 to $300 but a mini-account should have at least a $1000 balance. Mini-accounts are excellent for beginner Forex traders and great to test basic trading expertise and acumen. Mini FOREX account is great for accounts below $10 000. The mini forex accounts enjoy the same benefits as the regular forex accounts, small spreads and free trading platform.
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forex rates
For the last three decades Foreign Exchange market, - briefly Forex or FX, had integrated into the world's biggest financial market. The volume of daily transactions is about 1-3 trillion of US dollars. The trading instruments on this market are the currencies of different countries, so the fluctuation of currency's rates allows to gain a real profit.
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Gold futures plummet to 2-week low
Fri, 18 Apr 2008 15:49:03 EDT
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posted by the forex guru @ 7:11 PM
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