Archive for May, 2013

Some thoughts on Forex Trading

When many people first embark on Forex trading they think that their lives are going to magically change overnight and that their bank balance will triple. The truth is that mastering Forex trading doesn’t happen in only a few days or weeks and that one is bound to lose money before one makes money. In order to minimise losses and maximise profits it is vital to have a solid plan in place and a good understanding of common mistakes so as not to make them yourself. The number one most common

May 19, 2013 1 Comment Full Story

130 pips on EURJPY!

130 pips on EURJPY!

I had opened a long trade on EURJPY a few days back after seeing some support around the 12700 mark. My entry was perhaps a bit premature as I hadn't waited for a confirmation of the support line. However, on the second day, the price actually moved down to support again and tested it (at this point, my drawdown was around 100 pips). This would have been the better place to have gone long but looking at the chart, I would have probably entered at exactly the same price. Anyway, the follow

May 2, 2013 No Comments Full Story