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Currency Play For The Next Week

by Vince Dowd

Traders,

 

I have been working and tweaking different systems, formulas, tools and trades and so far have been very successful.  If you have been following me on TWITTER you know what i mean.  Here is what I am looking to trade the week ahead.  Remember, these are NOT in and out trades, these are trading the overall trend of the currency pair and both of these are BULLISH LONG trades.  Note the stop is far from the entry and if the risk is too much I can always switch from a mini to a micro account and take more lots.  I use the rule to enter the trade and take out 50 pips with ALERT and then move stop to Break Even.  I encourage you to paper trade these.  Why?  You must learn to trade and not just take trades handed to you, see why the do what they do and don’t risk real money in the learning mode.  Remember currency can make or lose you a lot of money, risk management is vital. 

 

TRADE 1:  BUY eurjpy at 132.96  STOP 129.39   

 

TRADE 2:  BUY chfjpy 87.5 STOP 85.73

 

 

See charts for more details

 

Have a great 3-day weekend Serene US traders and around the world have a great weekend.

This entry was posted on Saturday, May 23rd, 2009 at 1:45 pm and is filed under Articles, Forex Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. | Email Us

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