"Cooperation is the best way to understand FOREX”
Hello, I have found a BLOG witch posts an everyday trade plan. I have tried to use the entry points given by him and I have earned some profits. So I would like to post he’s trade plan on this forum, I have asked for the permission to post he’s trade plan here, and have invited the author of the BLOG to answer here the question that will appear. As he says “Cooperation is the best way to understand FOREX” so lets cooperate. I will be the first to ask some questions.
So first of all I would like to show you the yesterday trade plan
Quote:
GBPUSD Monday is a very hard day... Just as usual...
Good morning!
After the news on Friday, the ascending trend had been continued. Right now we have to break too many support levels to begin a bearish trend.
So, an ascending movement today is possible, in my opinion.
The main level for me to reconsider my decision is 2.0834.
On the morning I will plan my European trading session on the basis of the Flat borders, my support/resistance levels.
Take a look at the picture
http://bp2.blogger.com/_Sv1U9q9koZU/...05+-+gbp01.gif
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I have opened a sell order at 2.0830 and I have closed it at 2.0800 a little bit lower there was a support. I have earned 27 pips
So, everything is clear, but you didn’t say anything about a stop loss. I would like to ask what stop loss should I use? I didn’t put a stop loss because I traded on demo account.
Here you can see the entire post with other explications:
The Uncommon Trading In My Life: GBPUSD Monday is a very hard day... Just as usual...
Good Luck!!!