When selling a currency pair, what order do I use to take profits?
I am reading and learning forex trading using a demo account. I am selling the USD/CHF. I have my buy-stop in place above the market in case it moves against me. I learned this is a good money management practice. I have my take profit target set but do not know the order to implement that will allow me to leave the computer and not have to monitor the position. Any advice from the pros will greatly enhance my learning experience. Thanks so much!
As a general rule of thumb, traders should set stop/loss orders closer to the opening price than limit orders. If this rule is followed, a trader needs to be right less than 50% of the time to be profitable. For example, a trader that uses a 30 pip stop/loss and 100-pip limit orders, needs only to be right 1/3 of the time to make a profit. Where the trader places the stop and limit will depend on how risk-adverse he is. Stop/loss orders should not be so tight that normal market volatility triggers the order. Similarly, limit orders should reflect a realistic expectation of gains based on the market’s trading activity and the length of time one wants to hold the position. In initially setting up and establishing the trade, the trader should look to change the stop loss and set it at a rate in the ‘middle ground’ where they are not overexposed to the trade, and at the same time, not too close to the market. Limit orders, also known as profit take orders, allow Forex traders to exit the Forex market at pre-determined profit targets. If you are short (sold) a currency pair, the system will only allow you to place a limit order below the current market price because this is the profit zone. Similarly, if you are long (bought) the currency pair, the system will only allow you to place a limit order above the current market price. Limit orders help create a disciplined trading methodology and make it possible for traders to walk away from the computer without continuously monitoring the market.
Visit this site for more information. Their system allows traders to change their trade orders as many times as they wish Free of charge, either as a stop loss or as a take profit. The trader can also close the trade manually without a stop loss or profit take order being hit. Many successful traders set their stop loss price beyond the rate at which they made the trade so that the worst that can happen is that they get stopped out and make a profit.
Should you wish to trade with them, for a minimum deposit of $100 they will provide you a personal Account Service Manager with whom you can discuss live any of your technical questions and will even trade along with you to make sure you get familiar with their system.
What are the best forex automated signals available ?
Im very interested in getting a Forex automatic system to trade for me.
I have heard great things about forex robots,but i have no experience with them.
Would you recommend any of them?
There is NO forex signal company that can beat the market in the long run. This is from my experience in forex trading for years. Else everyone is rich. Here is a good read about forex signal company: http://www.forex.labuan.net/forex-signal.html
A Forex trader needs to learn and master the necessary skills to be successful in forex trading.
How did the Romans maintain control over their empire?
How were they so successful in keeping control over all of the empire’s many settlements and inhabitants?
What strategies did they use to keep the people in order and prevent rebellions?
There were 3 main methods:
Firstly, the inhabitants of newly conquered areas were thoroughly Romanized, by bringing them the benefits of Roman civilization. The Romans built new towns and cities, straight roads that facilitated transport and trade,introduced central heating, running water, the rule of law and a single language, system of weights and measures, and currency.At the height of the empire, it was possible to travel from the Scottish border to the Euphrates using only one language, one currency,and under one set of laws in complete safety.
Further, all the goods of the world were made available in the markets throughout the empire – olives and grain from the Mediterranean basin, spices from India, silks from China,emeralds from Egypt, wine from Italy. The idea was that all these improvements would make everyone happy and content and, most importantly, identify with Rome and therefore not cause any trouble.
Secondly, during the Late Republic and Early Empire, client kings were often used by the Romans in recently conquered provinces. These rulers were given a measure of local autonomy, power over the native inhabitants, and even permission to maintain armed forces in return for making sure the taxes flowed into Rome smoothly and that the locals were kept under the thumb. Queen Cartimandua in Britain and Herod in Judea were both client rulers of the Romans. However, the practice of using client kings to maintain control of certain areas fell into disuse in the later 1st century AD.
Finally, the Romans had a large, well equipped, well trained and disciplined army that was used to ruthlessly crush rebellion and revolt when necessary; “They make a desert and call it peace” commented one rebellious chieftain in Britain in the late 1st century AD. Roman policy was to deal with such rebellion harshly – firstly, as a warning to others what the consequences were, and secondly the slaughter, enslavement,and confiscation of property of rebels on a wide scale severely diminished the numbers and resources available for any potential future uprisings.
what is the best way to learn about forex trading?
i would like to learn to trade forex but dont want to sign up to any scams that say they deliver but dont and just take your money,is there any real genuine help out there.
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.
Forex is what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347” is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347” gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Do you believe that the US judicial system can handle prosecuting terrorists?
Or do you believe that our judicial system is so flawed that we cannot trust it when it comes to terror suspects.
If the system is too flawed and inaccurate to prosecute terrorists, can we trust our court system with the death penalty?
So far i agree with you all! WOW!
Well, let’s put together a little list of successful prosecutions and incarcerations of terrorists, shall we?
* Sheikh Omar Abdel-Rahman, convicted of the 1993 World Trade Center bombing
* Ramzi Yousef, convicted of the 1993 World Trade Center bombing
* Ahmed Ressam, the Millenium Bomber
* Wadih el-Hage, convicted of the 1998 U.S. Embassy bombings in Africa
* Richard Reid, convicted of attempting to ignite a shoe bomb while on a flight from Paris to Miami carrying 184 passengers and 14 crewmembers
* Ahmed Omar Abu Ali, convicted of plotting to assassinate the U.S. President as well as attack and destroy civilian airliners
* Zacarias Moussaoui, convicted of conspiring with al-Qaeda to hijack and crash planes into prominent U.S. Buildings as part of the 9/11 attacks
* Theodore Kaczynski, the Unabomber
* Terry Nichols, convicted accomplice of Timothy McVeigh in the 1995 Oklahoma City bombing
There are currently 139 individuals in BOP custody who have a history of/or nexus to domestic terrorism.
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