So did you enjoy the breakouts? I saw some of you succeeded to take the proper positions and make some money. If you were not on time enough to take the proper position or you lost money due to taking a wrong position don’t be upset or disappointed. You will be able to take the advantage of the next opportunities.

Just keep in your mind that if you are losing more than what you make, you have to stop trading with the real account. One of my friends who is a very experienced trader says that you are qualified to trade with a real account only if you can triple a demo account. It doesn’t matter how long does it take to triple a demo account. Two months or one year. As soon as you can do that, you are a forex trader.

Read the rest of this entry »

Today was a slow day. Mondays are usually slow maybe because most of the big traders do not open/close their positions on Monday. The banks’ traders need one day to analyze the market and decide about the next positions because they are swing traders and one day doesn’t make a big difference for them.

On the other hand, the market, economy and business is slow in general because of the all of the bad news that can be heard everywhere about the USA and USD recession. After the real Estate recession in USA and then UK, now the world is waiting for the credit card recession in USA. Waiting means indecision and inaction in different markets and specially forex market.

Read the rest of this entry »

Hello my friends

I researched about the Pivot Points during the weekend and wrote an article about what I learned. I was not used to use the Pivot Points but I think I will have them on my charts because I have learned that they are so helpful and sometimes more helpful than the Fibonacci levels. So in case you have not read my article, I suggest you to spend few minutes and read it. You will learn a lot of new things like me:
How to Use Pivot Points in Forex and Stock Trading? Read the rest of this entry »

I already knew that some traders use nothing but Pivot Points to trade but I had never used it because I had been stuck to my own trading system(s). This weekend I spent some time to research about Pivot Points and see how others use this indicator for their intraday trading and I found it really useful to have the Pivot Points on your charts even if we have a different trading system. Read the rest of this entry »