Author archive for contacttf

  • The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”.

    EURUSD BREAKEVEN

    Trade did not work out as expected. I used the Tenkan sen and Kijun sen on the 1 hour to…

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  • The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

    USDCHF BREAKEVEN

    I saw resistance on 1 hour charts. The chart setup on the 5min, was not great. Price was floating near…

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  • The US Dollar v/s the Canadian Dollar is a popular currency pair due to the large amount of cross-border trading activity that takes place between The United States and Canada.

    USDCAD LOSS

    So many mistakes made in this play. I missed an opportunity on the GBPUSD short, so I quickly entered USDCAD,…

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  • A trading system is simply a group of specific rules, or parameters, that determine entry and exit points for a given equity. These points, known as signals, are often marked on a chart in real time and prompt the immediate execution of a trade.

    GBPUSD BREAKEVEN

    Very poor trade overall. I should have known better. My entry was stuck been 2 resistance areas. The price started…

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  • Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.

    GBPUSD PROFIT

    I got in at a better entry this time. It bounced off the support area. I moved the stop up…

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  • Common Approaches to Adjusting Stop Losses. One approach that can work is to wait for a defined length of time, one that should have given your trade enough time realistically to “breathe”. Once this time has elapsed, if your trade is showing a loss, exit immediately; if a profit, move the stop loss to break even.

    GBPUSD LOSS

    Very poor start to the day. My trade entry was not great. I left a lot on the table. I…

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  • A SELL trailing stop limit moves with the market price, and continually recalculates the stop trigger price at a fixed amount below the market price, based on the user-defined

    USDCAD PROFIT

    The resistance on the 1 day chart was not clear. For this reason my stop was very tight. The trade…

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  • The foreign exchange market is the

    GBPUSD PROFIT

    I got back into the trade slightly higher. I may have miss calculated the previous trade entry. Trade closed with…

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  • GBPUSD LOSS

    All charts line up. The resistance on the 1 day chart was apparent but not clear. I lost trade before…

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  • Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.

    USDCAD PROFIT

    One of the smoothest trades made. I was very cautious about US data, so I set my Stop wider than…

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