Stop and profit targets are up to each individual as well as risk management and position sizing. This is where your developing skill as a trader will come into play.
You can use the 2nd Value Level given as an area to place your stop behind along with previous highs or lows. If price does exceed the 2nd Value Level, the probability of price reversing is usually greater. A great example of this was on the gbp/usd buy setup we had last week. Have look where the cable is at now.
I will at times talk about places to think about exiting the trade after the trade has been working. An example of this was after the euro sell at 1.4760-1.4800 last week. After it had dropped 200 pips there was a new buy setup at 1.4550-1.4500. I also said to cover the shorts for the 1.4760 area. More detailed training on this will be covered later.
The trade alerts target trend trades and countertrend trades. It’s up to you to decide which you want to trade. The trend trades are nice because you can let the trade work and for a few days or weeks. This is more of a hands off approach after you have your position on. The important thing is to trade around these areas as they are key areas in the market that attracts professional interest. Happy Trading!
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Nice signal! Good resistance at that level. I got in a 1.6381 and out at 1.6327 - made 54 pips!
Keep it up - jackinabox
Posted by
jackinabox |
December 10, 2007 5:25 AM
Thank you jackinabox for your nice comment.
Our Forex Trading Signals are going to dominate the market. Watch your Inbox.
Happy trading.
Posted by
Forex Gladiator |
December 10, 2007 6:34 AM
Hello David, and team,
Is it possible to get stop loss and target points in the trade signals? Thank you.
Mark H.
Posted by
Anonymous |
December 10, 2007 7:37 AM
Hi Mark,
Stop and profit targets are up to each individual as well as risk management and position sizing. This is where your developing skill as a trader will come into play.
You can use the 2nd Value Level given as an area to place your stop behind along with previous highs or lows. If price does exceed the 2nd Value Level, the probability of price reversing is usually greater. A great example of this was on the gbp/usd buy setup we had last week. Have look where the cable is at now.
I will at times talk about places to think about exiting the trade after the trade has been working. An example of this was after the euro sell at 1.4760-1.4800 last week. After it had dropped 200 pips there was a new buy setup at 1.4550-1.4500. I also said to cover the shorts for the 1.4760 area. More detailed training on this will be covered later.
The trade alerts target trend trades and countertrend trades. It’s up to you to decide which you want to trade. The trend trades are nice because you can let the trade work and for a few days or weeks. This is more of a hands off approach after you have your position on. The important thing is to trade around these areas as they are key areas in the market that attracts professional interest. Happy Trading!
Posted by
Forex Warrior |
December 10, 2007 6:20 PM