Hello Everyone,
I have something G-R-E-A-T to share with all of you. I found a wonderful new resource that teaches forex trading. When I say “teaches” it’s not a textual website or a e-book, these lessons are conducted by real-time instructors presenting the lessons with audio and visual technology. It is not pre-recorded video so you can ask questions and get answers from the instructors along the way.
One of their free classes "The 200 Moving Average" just blew me away! I expected that they'd only teach what 200MAs are, but to my surprise, they taught the whole trading system which you can already use for trading!! From defining a clear profit target, defining stop losses, to how to enter the trade.
I virtual traded with this 200MA setup and already made around $500 virtual dollars (how I wish it’s real money). Let me show you the charts of the trades I took:
1) AUD/USD on 9th May 2007
Profit Targets:
1) 0.8311
2) 0.8319
Stop Loss: 0.8265
Entry: 0.8287
Profit taken @ 0.8322
Total Gain: 35 Pips
2) USD/JPY on 10th May 2007
Profit Targets:
1) 120.28
2) 120.38
Stop loss: 119.68
Entry: 120.08
Profit taken @ 120.28
Total Gain: 20 pips
Isn’t it great to have all the stop losses and profit targets clearly defined? If you wish to learn how, sign up before 15th of June at:
http://www.staywealthy.com/recommends/fxiltr.html
If you see a person nicknamed "PipSqueak" in the chatroom, that's me! :P Think I may start another section about my forex trades soon, hehe :)
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