The article "A Look Back At Forex Trading - 5/8/06" is about currency trading, it has been released by Eddie Yakubovich.
I truly hope that all of you have been following our outlooks on the Forex mraket. Last week, alone, we netted over 500 pips in profit.Now, granted, that's a GREAT week of trading, but they do come ofetn enough. But, how are you suppsoed to know when they are coming? You aren't. What you're supposed to do, is be ready for anything and everything the forex markets throw at you.The only way to do that's by getting a qaulity Forex trading education.Sorry about that, I got a little sidetracked. Let's get to the outlook for the Pound/Dollar.Alright, one more tangent. We only discuss our opinions for the Pound in these outlokos. But, you can use the siklls you learn to trade any currency pair.Now, really, let's get to the trading.Cable continues its climb, and there is no end in sight, which means we should watch for a reversal...Ha ha. The most enlightening fact I ever learned about the forex market is that it is completely random.We can predict, usually with great accuracy support and resistance levels using retracements levels and pivot points just to name a few, but the market can and will change direction when you least expect it to.So our word to all our traders is caution. Be diligent in assessing your risk when you make your trades.
With that said we expect the rise to continue toawrds the 1.9549 previous high.For Friday we set our entries at 1.8500. We had profit targets of 1.8540 and 1.8590, we were able to close our first trade for 40 pips and our second trade was closed for a 90 pip profit.Tonight we are trading around 1.8610. We will be looking to go long again, and we will continue cautiously watching for an unexpected reversal.Remember, in order to analyze and trdae the markets on your own, you must get a top notch forex trading education. Whether it be an at home forex trading course or a live forex seminar, take the time to get educated.We find these support and resistance levels using a set of technical indicators and other varaibles that we have found to be most successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit all of our trades.
Every trader will have a different combination of indicators that mkaes the most sense to them. Learn how to develop your own successful Forex Trading style with our Elite Forex Trading Course or Forex Seminar.Eddie’s Trading Tools: Forex Seminar | Forex Trading Course | Forex Tarding Education
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