Friday 26 April 2013

Trading Forex Right In The Comforts Of Your Own Home



Trading in financial institutions is one of the best ways to earn money.


 It is also one of the most promising career choices that people make today.

With the opportunity to earn a lot of money, more and more people who are interested in trading in the financial institution have left their jobs to get a piece of the action in the financial market.

Today, the Forex market is the best choice for people who are considering making a career out of trading in the financial market.

Source: reviewsarena.com


Besides, who wouldn’t want to trade in the largest and the most liquid market in the planet which involves all the countries in the world?

The Forex market operates 24 hours a day with currency exchanges that can go as high as 2 trillion dollars each trading day.

Also, it is the most liquid market in the world which also means that traders can enter the market anytime they want and get their profits easily.

In the past, Forex was limited to large financial institutions and multinational companies.

Only banks, central banks and large companies were allowed to participate in the Forex market.

However, thanks to modern communications technology and high speed internet and decreased sanctions in the Forex market, ordinary people can now trade and participate in the world’s largest financial market.

Because the Forex market is now open to everyone and because it is a very profitable industry, online

Forex brokerage firms began improving their services and accessibility.

They now also designed different trading platforms suitable for different Forex traders.

Not only has online Forex brokerage firms made their trading platforms accessible, they also began and still continuing to improve their software.

They also allow people to register with a Mini Forex account that can let them trade with a minimum margin of 100 dollars only or even less.

If you are interested in joining the Forex market, you only have to have a few things to get you started.

First, you need a computer with a high-speed internet connection.

The high-speed internet connection is very important for an effective trade to work.

It will also minimize the risk of slippages that can cause you to lose money.

So, if your area doesn’t have any high-speed internet connection available, you should forget about trading in the Forex market online.

This will only make you lose a lot of money.

Second, you need to choose which Forex brokerage company you should hire.

These companies will provide you with the Forex trading platform that you can easily download and install in your computer.

The Forex trading platform is simply a software program that is essential for an online Forex trader.

It is important for you to choose a trading platform that you are comfortable using.

You should also make sure that the trading platform you choose provides accurate and up to date real time information, security, and stability.

It is also recommended that the trading platform you choose should provide information on at least 16 currency pairs, execute orders with just a click of the mouse, have charting tools to perform technical analysis, and should also have a recording feature that will store your trading history.

With all these features, you can really improve the way you trade in the Forex market and also minimize the risk of losing money.

Look for a Forex trading platform that is simple to use and easy to understand.

If you wish to know more about the Forex trading platform that a Forex trading brokerage firm offers, you can consider opening a dummy or practice account.

By doing this, you will never risk real money on trades while learning the ropes.

You will also get hands on experience on the Forex trading platform and really determine if the platform is for you or not.

Risk management is also a very important feature that you should look for.

If it takes too long to select a risk management order, you should consider looking for another Forex trading platform.

These are some of the things you should look for in a Forex trading platform.

With a little practice in the dummy account, you can be sure that you can get the hang of it in no time at all and start making money through online Forex trading with a reliable Forex trading platform.

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Wednesday 24 April 2013

Should You Use Automated Forex System

With the improvement of technology, many things are beginning to be automated. The same thing is already happening in the Forex market with Automated Forex Systems.


But before you jump right into the Forex bandwagon, shouldn't you know the reason why more people are trading Forex?

Why Forex trading?


This is probably one of the questions that you need a reasonable answer. There are hundreds of investments out there that you can prefer, but why go trading foreign currencies instead?

Forex investment is unique in various aspects.

* Its trading volume is relatively huge compared to other market.
* It has extreme liquidity or the capability of either buying or selling the currency without causing significant movement in the market price.
* It has the largest number and variety of traders.
* It is one of the markets that have long trading hours (24 hours each day, except during weekends.
* Trading locations are almost everywhere, not just in the United States or major cities of Europe.
* There are different factors that affect foreign exchange rate.

Another whooping fact that will make you excited to go on Forex trading: it has an average turnover in traditional foreign exchange market of around $4 trillion daily, according to the Triennial Central Bank Survey of the BIS (Bank for International Settlements).

Here are the daily averages of turnover on the Forex market for the last 17 years:

* $500 billion (April 1989)
* $750 billion (April 1992)
* $1.18 trillion (April 1995)
* $1.48 trillion (April 1998)
* $1.16 trillion (April 2001)
* $1.88 trillion (April 2004)

From the figures alone, you will notice that the average trend of Forex turnover is increasing.
It is estimated to reach as high as 2 to 3 trillion dollars within the next 8 to 10 years, if the number of traders around the world will continue to increase.

As a matter of fact, everyone have the chance of getting a substantial slice of the Forex market wealth pie, especially that the Forex trading marketing is now on its automation process.

The concept of automation becomes the new trend to the foreign exchange trading market.

The Interbank spot Forex market has also considered switching to the automated method as well.

There are several benefits that a Forex trader can derive from automated Forex trading.

Source: e-junkie.com


Here are some of such benefits and figure out why Forex trading as well as other investments (futures and commodities) prefer the automated process.
* Through automated process, transactions can now be done in real time. 

Although manual systems have existed for quite some time now, it is difficult to achieve such benefit that the automated Forex system can offer to its traders.

All of the trades can happen within a few milliseconds and can be a big plus for automated transactions against the manual system.

In fact, there are problems that are addressed using automated Forex trading especially if the trader is losing a few times in a row that prevents him from making new trades.

Such problem could be addressed using the automatic trading system.

* With automated Forex trading, you will have a greater diversification. 

It means that you can trade in various markets in different time zones at a time.

You can execute trades with traders from Singapore or London even it is already 12 midnight in the United States.

This benefit allows you a multiple exchange model option.

You can use varying trading models to evaluate short-term data.

This means that you will be able to predict the trend for a shorter period of time, let us say from fifteen minutes to half an hour.

* As previously mentioned, the Forex market is unique because of its extreme liquidity. 

This liquidity is increased when the market goes automated.

* Risk management problems are solved through automated Forex trading. 

International checks, which are commonly used in making purchases on Forex market, are synchronized through automated technology.

Since the transaction in an automated process is now on real time, there is a slim chance that the payments will be delayed, reducing the risk of non-payment by either parties.

Although there are problems noted with the use of the automated system, it can be fixed through consistently-updated technologies.

With automated Forex trading market, the prediction of $2-3 trillion average daily turnover within the nest 8 to 10 years can be changed within the next 4 to 5 years.

Given the quick yet efficient trades on varying time zones, automated Forex trading will now be among the existing lucrative business around the world.







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Tuesday 23 April 2013

Forex Trading: Double Your Account In A Year!


If you are interested in Forex trading, you may have been informed that forex trading is a high risk high return  type of investment.

You see, most expert traders out there will tell you that they are able to double their account balamce in one year's time.

Is that a high return?

Yes, if you compare it with a conventional type of investment like saving money in the bank.

In my country, a fixed deposit account usually provide just over 3% return in one year.

Compare to this, a 100% return in Forex would be masive.

Now, I am not saying that 100% return in a year is not good. But with the amount of risk that we put in forex, shouldn't the return be much higher?

Ask yourself this question.

For me, a good return in Forex would be doubling my account in every 2-3 months.

That is what i call high return. 

Sounds hard to believe?

Source: www.fxtips.weebly.com


In Forex, one can achieve a 100% return by just making 10 pips a day.

Yes, that is true, I attended a training before and the person giving the training said that.

Just think, if you make 20 pips a day, you will be making 400pips a month.

By using the leverage in the lot sizes, it won't be hard to calculate how much we can really earn.

The answer is simple because there is so much money to be made in Forex.

Simply increase your lot or contract sizes every week will allow you to grow your account like crazy.

All of this is only possible if you have a good trading strategy.

Without it,  everything will be useless.

It doesn't matter if you initial deposit is 100,000.

What matters most is your winning ratio. If you have a 80% win rate, you can turn $1000 to $1000000 in a year.


That is how powerful forex can be.






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WHy Use A Forex Simulator?




There are different reasons why many people are trading in the forex.

It includes free demo on real time, leverage of 400:1, or simply getting into the action of trading. 

However, even if traders performed practices on real time trading by testing its services and strategies, they sometimes fail. 

The trading demo is not enough unless the trader know what he is doing.

Source: www.trade2win.com

There are different important factors that traders should do in order for them to succeed. 

Remember, forex trading involves practice, reinforcement, and repetition. 

This process requires refined strategies and skills. 

So, traders should incorporate forex simulators to help them save money and never start as a loser.

Compared to forex demo that provides real time functions, forex simulators helps the traders to upload, review, and view historical data any time.

 It tests the traders understanding if they could recognize trading signals and patterns which can be fast forwarded and rewound.

 In this manner, the traders can retests their forex trading knowledge and find out what are the things to improve and change to stay in the pace of the forex market conditions.

Forex simulators are very essential to traders because they can be trained for months even within a few days of working. 

It is because the traders can rewind, pause, or fast forward whatever knowledge they have learned. A five-minute timeframe can be set-up to whatever chosen area. 

The traders can also get trade snapshots, use the indicators that they like, or keep journal trades to refine strategies.

Forex simulators are compared to PC games. 

The player has a mission to accomplish and repeating the games so many times can lead to perfection. 

The forex simulators also works this way, it requires a lot of practice, repetition, and reinforcement to be a good trader.

The traders are more prepared before they try opening a live account on forex trading. 

Forex simulators are serious tools for traders who wanted to learn how to trade before investing their real money on it.

Keep in mind that there are thousands of forex traders in the forex markets. 

So, how will the traders invest their money successfully if they don’t understand the basics? 

If forex simulators are clearly defined and practiced then a trader’s success is always possible. 

The first thing that traders should avoid is forex trading pitfalls so that they could really make money out of their investments.

- Forex simulators are helpful guides to forex traders so that they could successfully trade forex in the forex markets.

It teaches the traders on how to trade in pairs instead of currencies.

The traders learns the relationship of one currency from the other and its impacts.

Take note, the failure or success of trading forex depends on the right combination of currencies.

- The market conditions are also important when trading forex.

Forex stimulators help the traders in understanding the basics of forex trading markets to the best of the trader’s advantage.

It also updates the traders about economic events and news affecting the market conditions.

Most novice traders can be shocked by market fluctuation brought about by these phenomena.

So, they missed the opportunity to trade because they wait for the market to calm down before trading. Remember, the potential market condition lies in its volatility and not in tranquility.

- Traders also study the advantages of short-term and long-term trading.

They can obtain helpful techniques to gain profits by being an ambitious trader.

The bid and ask price should be understood well in making profits especially when making either a small or large trades.

- Forex stimulators enable the traders to weigh the effects of trading with too much caution.

The incremental profit on small scales does not make any difference. 

Placing stop losses that are too tight can increase the risks of trading failures.

- The traders can choose whether to become an independent trader or with an aid of a broker.

The risks are clearly explained as well as the outcome of trades.

In any way, the traders should analyze it by themselves or seek advice from different reputable sources to prevent committing trade mistakes.

Forex trading simulators can help the traders developed helpful strategies before starting their forex trading business. 
 
Simulated forex trading is worth it because it starts with a plan, proper knowledge, and skills to achieve success in trading forex.









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Monday 22 April 2013

Forex Trading: Get A Good Forex Program

How you ever thought about doing a trade globally? 

Some people might be a bit hesitant to do such a thing, but the opportunity is just waiting for you out there.

You don’t actually have to travel outside your country, if that's your concern.

With the availability of the Internet, you can actually do forex trading on a global scale even in your own home, at work, and regardless of your location.



The FX market seems complex, especially to new traders, and they find it rather difficult to go about the trade. But nothing is impossible once you've learned the trade.

It is a worthwhile venture that you might want to consider even on a tight office schedule.

Being employed in a particular company may not give you all the money that you would need to finance your everyday living.

Doing some extra work is often recommended specially in today's times when money is difficult to find. Worry no more; the FX market is not far from your reach.

Identify your goals upon entering the FX market.
This is the primary step, so that you will stay focused in your endeavor.

Once you've set up a goal, you have to do all it takes to reach that goal, but it should be in a reasonable manner.

In going through forex trading, you will need an investment program, and a good one. Don’t settle for anything less because an effective way to succeed in forex trading is a good program.

Most rookies commit the biggest mistake of their lives by availing fake programs.

The FX market is a huge industry, and the fact is, many scams and con artists abound the Internet, which actually provides useless materials for beginners.

This often leads to frustrations of beginners because they've already failed even before they get to start the actual trade.

Find a legitimate forex investment program. Although it might require a bit of looking around, as well as a bit of your time, once you get what you’re looking for, you're in a good start.

You don’t have to settle with expensive programs, nor with programs promising easy and quick profits with less the risk.

You must be aware that though the FX market offers a lot of opportunities, it is also surrounded with a lot of risks.

To become like the pros, you need to learn the forex trading system; and you have to be serious in learning it.

A good forex program is dynamic.

It provides daily advice, manuals, DVD materials, computer disks, and other important forex trading stuffs or resources to transform you into a succesful trader.

Check if their previous clients are satisfied with their services, and see if the company has built a good reputation in the business.

Professional traders regard forex trading as a science, some thinks it's an art; and to start the real trade, you must undergo a lot of practice.
After all, practice makes a perfect trader. Demo accounts are surefire ways to learn the different techniques used in the FX market.
After you've mastered it, you can proceed to a mini account. Here you can do an actual trade but the risks are minimal.
If you think you're quite ready, then get a regular trading account.
This is a highly effective step-by-step process because you get to learn a lot of things while your practicing.
Always maintain calmness, and act like the pros. You are about to make big money, one that you probably never imagined in your entire life.

Forex trading is done on a margin. Margin trading allows you to control more money than what is actually in your hands.
For you to trade one million US dollars, you should have a security deposit worth ten thousand US dollars. This is a typical example with the rate at 1%.

The FX market spans around the globe, so you can trade twenty-four hours a day.
If you choose to do margin trading, the spread rate is much lower compared to futures trading.
The requirements are also quite low.

Familiarize yourself with all the in and outs of forex trading.
Trading globally poses a lot of risk; you must learn to overcome all these risks in order to earn big profits. Get a good forex trading program.  





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Sunday 21 April 2013

Target Trading In Forex: Week Of April 21

Its Monday again and it is a brand new week.


Looking forward to make some pips this week after a break last week.

Well, it's not exactly a break but I took some time off to visit a relative who is not doing so well with his health. :(

Anyway, a brand new week and here is what the experts are targeting this week

Source: www.investing.com


Source: www.investing.com
EUR/USD
What Forex Target Traders See: We are currently sitting at 1.3059 in a sideways move . We are looking at this current move as a bear flag so looking to get long near the .500 Fibo at 1.2945 area but we could get a fall to the .618 at 1.2900 before the bounce. We can see a head and shoulders pattern in force. The average (14 day) daily true range (ATR) for the pair currently is 109 pips.

USD/JPY
What Forex Target Traders See: We are currently at 99.50 on the 3rd wave R5 resistance and need a correction before looking again to longs. We will need to get a pullback hopefully to the .618 fibo at 98.83 since the Day chart top is at 99.97. If the market corrects we will look to going long to the first wave R7 resistance at 102.43. The average (14 day) daily true range (ATR) for the pair currently is 157 pips.

GBP/USD
What Forex Target Traders See: Cable is currently at 1.5233. We are looking for a continuation to the S4 support at 1.5179 and then further to the S6 at 1.5027. There is day chart trend line bisecting this so watch for a bounce there. The average (14 day) daily true range (ATR) for the pair currently is 118 pips. 

AUD/USD
A great smooth currency for Newbie’s! What Forex Target Traders See: Aussie is currently at 1.0288 –in a descending wedge pattern which is bearish. We are bouncing on the .382 fibo which could be a bounce point......


Full details if you go to the website.


Have a nice week trading
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Forex Trading: How Many Pips You Need To Be Rich?

Winning Pips


If you know about forex, you would probably know what all the traders are focusing on is winning pips. The pips are points that calculate our profits. It comes in different lot sizes or contracts.

In forex, forex traders use make use of leverage in order to trade and make big bucks.

How you ask?

The answer is to win as many pips as possible.

In order to do that, you must know how to trade forex of course.

And this is not easy because there is a lot to learn.

But put that aside.

I am here too share how powerful Forex can be if you can trade consistently with more wins than loss.


How many Pips You Need To Win? 


So how many pips do you need to make big bucks.

This will depend on the lot sizes on your trades.

Say that you can easily make 20 pips a day from the EURUSD.
Your lot size is 1.0 which is $10 per pip.
20 pips would bring you $200.

Easy right?

If you trade 3 currency pairs, you would have been able to make $200 x 3= $600 in a day.

If you take an average trades of 3 trades a week, you  would have made 3 trades per currency pair and a total of 9 trades in a week.

So, your potential profits for that week could be
$200 x 3 x 3 =  $1800

That is  $7200 a month.

 I know that is not much but remember that your lot size is only 1.0.
If you double that the following month to 2.0 per lot.

Your profits will double to $14400 a month.

That is a nice pay rise isn't it?

But we all know that it is hardly impossible to be correct 100% and there will bound to be some trades that we lose.

That is where your trading system or method comes in.

You don't need a trading method that can win you 100 pips every trade.

Instead, you need a trading method that can let you win 8 out of 10 trades that you make in order to make it in Forex.

Only with that type of accuracy, you will dare to enter trades with big lot sizes.

When you eventually reach 10 lot per trade, you will be making $18000 in a week based on the calculations above.

That is $72000 a month.

And this is only a 20 pip win in all of your trades.

See the power? I certainly did.




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Saturday 20 April 2013

You Need Practice In Forex Market



So you want to learn about the Forex market, and trading internationally but you are risking your personal wealth if you jump in before knowing all about how trading takes place.

Online, you will find many games and simulations while learning the methods involved in forex market trading.


The forex markets include countries from around the world, where all countries involved are using different currencies, and when faced against each other are worth more or less than the original valued currencies that are being traded.

The forex markets are used to build wealth in, for governments, banks, and brokers, and for many countries.

To get started in learning about forex trading, you will need to locate the forex trading software, education-learning system you want to use.

As you find the games, as they are called, you will enter information about yourself, about what you are interested in learning and then you will download software to your computer.

In following the 'game', you will learn how to make and lose money in the forex market.

This type of game is going to make you more aware of what happens daily, how the markets open and close, and how different the various countries currencies really are.

You will open an online 'account' using the gaming system.

You will then be able to read the news, find and compare markets, and you will be able to make 'fake' trades so you can watch your money build or be eaten away in losses.

As you learn the system, using it a few times a week, you are going to be more prepared, more educated and you will be ready to use the forex trades to make money.

Of course, you may still need the aid of broker or a company to make your transactions happen but you will better understand the process, what will happen, and what calls you may want to make when you read about the news, the markets, and the currencies in other countries.

The forex market is also referred to as the FX market.

If you are interested in joining the millions who are making money in the forex markets, you want to ensure you are dealing with a reputable banker or company involved in forex trading.

With the spur of interest in the forex markets, there are many types of companies that are popping out on the Internet appearing to be genuine forex trading companies but in reality, they are not.

Forex trading can be completed through a broker, a company that deals in the funds, and from within your own country.

For example, the US has many regulations and laws regarding forex trading and what companies are permitted to work with the public dealing with international trading and markets.
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Friday 19 April 2013

Weekly Summary April 15th - 19th

Its Saturday again... a week gone by in a flash.... this week, I did not made any trades as I was away visiting a friend who is not doing so well.

My prayers go to him and I hope he will be able to get better. Although things do not look good but still, we cannot lose hope.

 Although I did not make any trades, I still turned on my charts on a daily basis. I just wasn't able to be online at the right time for me to take the trade.

Anyhow, the market provided several opportunities this week. Let me share one of the trades that I found with you.

Here it is...


With this trade, I would have entered right after the candle close pointed by the arrow. The candle with a long pin to the low.

The low set by that pin was higher than the previous pin which you can see at the left of the image.

After the long pin, the trend took off...

It went more than 100 pips.... good profit....

Imagine if you had 10 lots on that trade..

You would have made 10 grand with just 1 trade.

Thais is the power of forex and why I love it,

Of course, you need to be dead accurate about it.

This is where the discipline and practice comes in.

So, if you are struggling in forex, don't worry about it.

Just keep on trading and find the right way to trade...

It took me more than 2 years (i think I am lucky)....

Just don't give up..!!!!



How to Succeed in Online Forex Day Trading

Forex trading is the largest known financial market.

Day or night, it doesn’t really matter; the trade goes on even as half of the world is asleep.

 It offers a lot of opportunities for many organizations and individuals to make profit.

There are many day traders in the market, and if you think you can do it, why not join the day traders.

Once you decide to start to day trading, don’t expect to learn everything about it in an instant.

You will surely need to learn for some time, and you need to exert a lot of effort. Practice makes perfect, and forex trading requires a lot of it.

Before using real money, you can practice through simulated trading and do a paper trade.
Here you can incorporate all your trading techniques and see if they actually work.

Don’t be a scared to lose a certain amount of money, because any trade involves a lot of it.

But it doesn’t mean that you should not limit your losses, you can make use of stop orders.
And most importantly, you should learn from your past losses.

A good trader by day should be disciplined.

Make discipline a habit in order to make sound decisions, and act in accord with trading systems/strategies.

This way, you can do your trade in a consistent and reliable manner.

Certain situations require an individual to make decisions based on their pre-set criteria and parameters.

You should make it a point to habitually follow your trading system/plan; this way you can effectively evaluate the results of your plan.

If your expectations are not met, perhaps its time that you make certain adjustments and fine tuning, so that your plan will still be of good use in the future.

Don’t let your emotions rule you, especially when you're making trading decisions.

A day trader should always be disciplined, and once you attain your objective, leave the market first.
Oftentimes people plunge in deeper because they are influenced by greed and fear.

There are also day traders who are quite reluctant to lose money.

For instance your stock goes down, and you're still hoping that after some time it will rise again.

And to your surprise, the share price goes further down. If only you were not reluctant to lose money, you could have sold it the first time its price went down, and prevent further loss.

A day trader should leave no room for fear and greed to take over; otherwise, this will be the key to your losses.

If you're serious with your day trading, you can also do it at home. You would need hardware and software requirements to put a sufficient platform at home for online trading.

For your hardware requirement, you would need a computer with a Windows XP operating system or the like. The monitor should not be less than nineteen inches.

You must have a fast internet connection because day traders need to make fast executions and confirmations of the trade.

They also need to receive and deliver quotes, news, and other pertinent market data. A fast internet connection allows you to make your day trading in a timely fashion.

Execution services are available online, and it comes in two types: the internet-based discount brokers and the online systems or the EDAT.

The first type varies on how customer orders are executed, reviewed, and confirmed.

This causes delay in completing a trade.

On the other hand, the EDAT enables the trader to contact specialists directly. This results to a much quicker execution and confirmation of the orders.

Software platforms that are especially designed for day traders are often used by the more serious ones because real time data are usually provided like stock ticker and quotes, market indices and averages, charting, market stories, and price alerts.

However, you would need to make monthly payments because this type of software usually charges fees.

Becoming a day trader is easy, but only if you are quite serious with this kind of endeavors.

Like any type of trade, it requires dedication, time and effort.

If you are able to put all of these things together, then you will reap profits that you've never imagined.
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Tuesday 16 April 2013

Forex tip: Don't chase a trend!!!

It is early in the morning and I woke up early because I had to go out later in the day.

So, I wanted to do the things that I wanted to do before leaving.

In this post, I would like to share an important tip when you trade Forex.

 

Have You Ever Chased A Trade?


Have you ever felt that you missed a trade or two?
You keep blaming yourself thinking why didn't you take the trade?

or

You got out from a trade too soon?
You only made 50 pips when you could have made 150pips because the trend was strong?

If you have been trading for a while, you will know what I mean.

As traders, we can't be monitoring the chart 24/7. We are not robots.
So, we will definitely missed some good trades.
I missed one yesterday.

In fact, it is not a missed.

I just made less profit because my entry turn out to pull away into a 150pips++ run. Anyway, i onnly bagged 50pips.

here is the entry of my trade



As you can see, the trend went on strongly after it hit my take proft at the'exit'

But no matter what, I profited a nice 50pips yesterday and went on with my day.

After I entered my trade, I had to go out, so I was not able to babysit the trade.

Nevertheless, I was confident about my trade.

 So. my point here in this post is to emphasis to you trade it is okay to earn less with your forex trading.

Earning less is much better than LOSING don't you think ?




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Happy Trading!!!