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Entries posted by JayG
The Importance of Stop Losses

Following up on today’s Daily Trade (day 2), I would like to elaborate upon the importance of setting your stop losses, and more importantly, sticking to them. If you do not stick rigidly to your stop losses, then you could blow up your account before you know it. I’m sure there are many examples of […]

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The Daily Trade – Day 2 (including result)

Trade Number 2 – AUD/NZD (1 hour chart) I would like to document a trade that I took yesterday (11th July 2011). It was something of a rollercoaster ride, and demonstrates just how important your stop placement is. I was alerted to the trade when the support/resistance “zone” (the green band) at around 1.28318 was […]

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The Importance of Money Management in Forex Trading

One of the most overlooked aspects of forex trading by non-professional traders is money management. Traders often get bogged down in complicated technical indicators and systems and overlook the foundation on which all successful trading accounts are based – money management. Without a stringent set of money management rules, one can easily blow ones account […]

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The Daily Trade – Day 1 (the result)

Well, on 5th July I talked about a trade set-up that I’d found on the GBP/CHF pair on the 4 hour chart.  We’d put a limit order in to sell on the break of the mother candle of the inside bar, which was at a significant area of support/resistance on the daily chart. It was […]

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The Daily Trade – Day 1

So here we go then… day one of “The Daily Trade”. You often hear about how professional traders keep a trading journal of the trades that they make. This kind of retrospective analysis is supposed to keep traders focussed and help them learn from their mistakes; and that is exactly what we’re going to do […]

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