Follow Us

Trailing Stop-Loss

The trailing stop-loss is a dynamic procedure when the exit point moves closer to the entry point if the currency moves in the direction favorable to the trader. The trader may also do this as new support and resistance levels are formed as the currency moves in their direction.

The trailing stop decreases the risk if the currency initially moves in the trader's direction but then fails to follow through. The trailing stop also attempts to fix a minimum amount of profit if the rate moves substantially enough for the trader to move the trailing stop to a profitable level.

Read more: Trailing Stop-Loss

Resistance based Stop-Loss

A stop-loss order is a simple way to exit a position if it reaches a point where we are unwilling to sustain further losses. It is easy and well suited for beginners of forex.

Read more: Resistance based Stop-Loss

Support and Resistance Strategy. A Short Review for Beginners of Forex

Support

Support and Resistance Strategy. A Short Review for Beginners of Forex

Occam's razor is a principle of parsimony stating that the simplest theory is always the right one. According to this principle, the Support and Resistant approach is one of the best. It is a very simple forex strategy which usually works. Its validity has been tested over and over again throughout history of forex trading and remains one of the most widely used strategies. In is easy to implement and is suitable for beginners of forex as well as for intermediate and advanced traders. The strategy is based on the forex crowd psychology.  Of course, nobody can predict the future and nobody can predict the movements of the market, however, sometimes the market moves in such a way that the prediction is possible.

Read more: Support and Resistance Strategy. A Short Review for Beginners of Forex

Forex Beginners Guide: Requote

forex requote

A requote in the forex world means that the broker you are dealing with is not able or willing to give you a trade based upon the price you entered. Generally this happens in a fast-moving market, usually around the time of a big news announcement or some kind of shock to the system. In essence, you decide to buy or sell a currency pair at a particular price and press the button to do so. By the time your broker gets the order, the market will have moved too fast to execute at the price advertised. In reality it is a difference between the price you decided to enter a trade by clicking buy/sell and the price on the market when your order actually reaches the broker.

Read more: Forex Beginners Guide: Requote

Three Simple Rules for Beginners of Forex

  • Have a plan for every trade. Before open your trade, have an explicit reason for doing so as well as a projection of what the market is going to do after you enter the trade. Do not place a trade if you just “have this feeling”. Although intuition may work for experienced traders, your "beginners luck" may have expired long time ago.

Read more: Three Simple Rules for Beginners of Forex