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Wednesday, 6 August 2008
Cable continued its climb today strong movement. Last night's bargaining for me an opportunity to discuss another key element of our strategy. When we arrived this morning, we had already closed our small trade to 40 pips and had a slight decline, we closed our second largest trading at 1.7720 compared with only 35 pips at 8:00 AM.
If we had stayed in our discussions we have closed for 85 Pips@1.7770. It looks like we lost about 50 pips, but you can not lose what you never had. We have strict rules about some new rules and told us we had to close their businesses before the release of PPI and housing starts at 8:30 AM.
The reason why we have this rule is simple, in our years of experience, we saw 35 to pip positive trade become a negative 40 to stop a few minutes. After witnessing this time, we decided it was better to take the course 35 pips off the table and their bank, and no risk with unpredictable move an important element.
Yesterday evening, we netted 70 pips, not too bad, and with cable in a more market trends, we are ready to do more.
Tonight we are trading around 1.7810. We are again looking for a purchase. There is some support in many 1.7800, and even more around 1.7870. The first resistance is currently at about 1.7900. All indicators seem to be that the cable signal will continue up and test resistance at 1.7909.
The most important thing you can do is educated. Learn more about investment and all aspects of the question. Do not trust your finances to anyone else, no matter how noble their promises.
Have confidence in yourself and your abilities and I think you'll be pleasantly surprised by the results you see.
We find these support and resistance with a set of technical indicators and other variables that we considered the most successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit of all our businesses. Each operator will have a combination of different indicators that is most suitable for them. Learn to develop your own style Forex Trading Forex with an exchange of education consisting of a Forex Trading Forex course or seminar.
Labels: forex
posted by Master @ 03:47,