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  1. Professional Risk Management: Hype versus Reality

    by , 07-08-2009 at 08:42 PM
    Senior Strategist shares his view on Professional Risk Management and Pro Pip Talk

    In today’s market environment risk management is even more important than at any time in history. Often times Forex Traders face erroneous offers in their emails. We cannot change this. We cannot undo the zealous nature of emotional forex fanatics that truly forgot that before they printed their excerpt – they forgot to realize that not one particular currency moved that amount. All of us get bombarded with the new bust-out robot or service which blows the doors out. They read fascinating blogs about how many hundreds of pips were booked in just a few hours and how last quarter thousands of pips were earned with some top-secret forex program. ...
  2. Forex Trading Update: U.S. Dollar Index is Setting the Tone

    by , 07-12-2009 at 05:17 PM
    EUR/USD Faces One More Round of Seven Week Old Consolidation

    Currently the U.S. Dollar Index has been contained in a very harmonic price action pattern. Its structural formation is much cleaner than any currency pair amongst the top five. If the 80.70 level does not reject on a 1 hour candle (currently 80.24) then indeed the US Dollar is in for a multi-week bullish pattern which is likely to show very aggressively in the EUR/USD and GBP/USDS. The Index is perched on support immediately at 84.20 with key but critical support at 79.50 in view.

    Friday we shorted the GBP/USD for a quick 50 pip profit to finish the week with nearly 100 pips per lot of profit.

    I would prefer to see the EUR/USD and GBP/USD ...
  3. Entry on Trade

    by , 07-13-2009 at 12:00 AM (Winners Edge Trading Daily insights)
    Yesterday I gave a winning Forex Trading Strategy, today I am making my first trade with this strategy.

    It is 11:05 PM Est Eur/Usd

    We tested the resistance level of 1.3973 and bounce off of it I believe we are headed down to the next support level of 1.3891

    I just entered at 1.3950 I have a stop at above the resistance level at 1.3979 with at target of 1.3891

    I will adjust the stop forward as I gain profit but I will not move it back. I opened two lots and I will keep the other lot with no limit to allow it to run if the pair continues to move down.

    10 min Chart
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  4. Forex Trading: U.S Dollar Index Takes Center Stage

    by , 07-13-2009 at 05:29 PM
    Forex Traders see EUR/USD Face Key Resistance Levels

    My classic July Tsunami is trying to form in the U.S. Dollar Index. I do not trade the Index but I prefer to focus on the next best place to trade the Dollar, in my opinion, as seen in the EUR/USD or GBP/USD. On a daily basis now the European Central Bank (ECB) is striving to talk-down the pair by honestly acknowledging the economic struggles in Europe and of course the rest of the world. In tandem with this, European banks are facing a high debt load with the normally high savings deposit rates by their customers; equilibrium usually prevails.

    On a serious note – an increase in Dollar strength is much preferred fundamentally for the world economic outlook as ...
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