We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • ECB's Weidmann states that he is still skeptical of Eurobonds - Die Zeit $EUR
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/uoyH5osnuX
  • Heads Up:🇺🇸 USD ADP Employment Change (MAR) due at 12:15 GMT (15min), Actual: N/A Expected: -150k Previous: 183k https://www.dailyfx.com/economic-calendar#2020-04-01
  • Análisis $USDMXN: Peso Mexicano cierra el primer trimestre con pérdidas superiores al 28% #usd #mxn #trading https://t.co/cPRrecg6lf
  • Moody's forecasts China real GDP growth of 3.3% for 2020
  • 🇺🇸 USD MBA Mortgage Applications (MAR 27), Actual: 15.3% Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/gIARIOHCxS
  • This is a new vehicle for the #Fed to make USD liquidity available across markets. As noted yesterday (https://www.dailyfx.com/forex/fundamental/article/special_report/2020/03/31/US-Dollar-May-Resume-Rise-Amid-Global-Recession-Fears.html) the market pop after the open-ended QE news looked temporary as credit conditions remained stubbornly tight https://t.co/DlbIue2Ve5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.66%, while traders in EUR/GBP are at opposite extremes with 70.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RWMrvVaVrN
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (MAR 27) due at 11:00 GMT (15min), Actual: N/A Expected: N/A Previous: -29.4% https://www.dailyfx.com/economic-calendar#2020-04-01
Becoming a Better Trader: Setting Logical Stops & Targets (Webinar)

Becoming a Better Trader: Setting Logical Stops & Targets (Webinar)

2017-01-12 13:28:00
Paul Robinson, Strategist
Share:

The “Becoming a Better Trader” webinar series runs every Thursday at 10 GMT time, with a new topic each week. To see a full schedule of all upcoming webinars, please visit our Webinar Calendar.

In today’s webinar, we looked at the important task of identifying stops and targets based on logic, not made up numbers; to use your analysis to identify proper levels before you enter a trade. Often times traders make the mistake of ‘telling the market’ how much they want to take out of a trade, instead of using the same analysis which got them into a trade, to then take them out of a trade.

Also, it’s important to know at what point you are most likely wrong on a trade, your ‘line-in-the-sand’, and then allow for the trade to work by giving it breathing room. This prevents one from ‘churning a position’ and alleviates some of the stress a position can have on a trader when the PnL starts whipping around.

It wasn’t all talk today, we also looked at recent trading examples in order to help demonstrate the principles discussed.

DailyFX analysts’ Q1 forecasts are available on our Trading Guides page

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.