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Forex Trading Where To Get In And Out of Your Trades

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Forex Trading Where To Get In And Out.

Forex Trading
Where to get in and out when trading Forex

Forex trading in its most basic form can summarized as where to get in and where to get out of the market.

Forex trading isn’t easy. It’s not something you can pick up in a week or two, but this article and video can help you if you already have some familiarity with the markets.

INSIGHT: There are several things to consider when looking for when and where to take your trades. In this video we’ll focus on Fibonacci levels.

Enjoy the video and please leave your comments below.

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VIDEO TEXT:

Welcome to this video on Forex Trading where to get in and where to get out. These are the most common questions that are received from traders and these are good questions.

That’s what trading is all about where to get in where to get out. You want to buy low sell high and conversely short high and cover low so yeah these are very important questions.

FOREX TRADING: BEGIN AT THE BEGINNING

The first thing we look for is a big move because we want to confirm that the market is really moving, there’s people participating in this thing. Now the question is will it resume and when we are going to get in so the way that I do this.

There are several different ways is we go and use our Fibonacci retracements levels. It’s a very common tool and we start with the low of the move and then we go to the high and that’s our impulse move right there.

FIBONACCI DRAWING TECHNIQUE

The question I get here is let me answer this right now is how do you determine which highs and lows to use your Fibonacci retracement. My answer to that is first of all Fibonacci retracements are percentages of an impulse move. So really it’s relative it’s all relative there is no actual wrong place to draw these highs and lows. It will measure the retracement levels of whatever the impulse move relative to that so I am going to however suggest that you might want to do this way.

Look for the highs and lows that stand out visibly on the chart so here on the chart the lowest low is here, the highest high is here. This is going to stand out to everybody trading this time frame or similar time interval. Therefore it has a bit of self refilling prophesy because that’s where allot of other people will be drawing their levels as well.

DIFFERENT CHART TIME INTERVALS

Right now different time intervals of course will have different Fibonacci levels. But you trade based on a time interval and all you’re trading is relative to that time interval so you can’t mix apples and oranges like that.

You can use them to compare but you gotta take your trade set up based on one particular time interval. Now, we look at our retracement levels and we’ve come back down to 50 percent halfway and we’re holding support to there. The first thing to say is that Fibonacci retracements in an up trend which is these are used for support levels.

WHAT NEXT?

Now the market is moving back in the direction of the original impulse move. Now, the next question would be okay where would I look to get out. Where should I place my targets for exits? Now we use our Fibonacci extension tool so this is a 3 point tool.

We start with the first 2 points one to the exact same two points. Then though you got a third point you have to do you drop to the lowest low of that retrace so now what it will do.

It will draw resistance levels above the high of that impulse move and that’s what we are going to be looking at those resistance levels for our targets. Right now we’re off the chart so one up here provided some resistance that off course not big profits there yet.

FOREX MARKET MOVING BEYOND THE IMPULSE MOVE

We’re looking for move beyond the impulse move above it and… there we go so it went to 100 percent and bounce right of it so that’s a great target to take either partial of full profits. It provides a good risk reward ratio so look at your reward, your reward is that and your risk was essentially that so nice risk reward ratio.

So, that’s how I use Fibonacci retracements for entries and for support and for uptrend and Fibonacci extensions for targets resistance to take profits to get out of the market.

Now one more thing here we don’t have time to cover it in this particular video but this topic was, where to get in and where to get out. Another issue is when… when to get in when to get out and that has to do with the price axis on the bottom.

The chart has 2 dimensions it has price on the Y axis and it has time on the X axis, that’s it two dimensions that all we got two dimensions to work with so. To do that, you’ll need my Cycle Indicator …

Send me an email at Barry@TopDogTrading.com requesting the indicator and I’ll reply with information on how to get it for free!

GET MY FREE TRADE STRATEGY TODAY!

Also, I am giving away one of my very favorite trade strategies. I call it the Rubber Brand Trade. You can get it absolutely free. It has a really high win loss ratio and is great for a Forex trader. It’s a simple strategy. You can learn it in about 26 short minutes. So get that video explaining that trade strategy, by clicking on the image in the top left corner. Or if you are on a mobile device, click on the little ‘I’, with a circle around it, in the top right corner of this video. And once you do that, I will personally email the first video to you absolutely free.

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A 26-year-old planning to retire at 37 explains how much money he must save

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Is retirement at 37 years old really possible? One 26 year old man thinks that it is and has it in his plans to do just that. Once you discover the amount of money needed to retire at this young age you might be very surprised. read this story and this young man’s inspiring words of hope for you!

A 26-year-old planning to retire at 37 explains how much money he must save

Best and Worst 529 College Savings Plans

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A 529 College Savings Plan helps plan for the future for your child’s education. This popular plan has tons of perks and benefits, but the fact is, many companies offer the plans. Not all are created the same and doing your research ahead of time ensures that you find the important information you need. Check the best and worst list here.

Key Takeaways:

  • A 529 plan may be your best way to save for college, but according to the latest annual ratings released today by Morningstar, not all plans are created equal.
  • Topping the list were three gold-rated plans: Nevada’s Vanguard 529 College Savings Plan, the Utah Educational Savings Plan, and Virginia 529 inVEST.
  • At the bottom, the negative-rated plans were South Dakota’s CollegeAccess 529, Arizona’s Ivy Funds InvestEd 529 Plan, and West Virginia’s The Hartford SMART529.

“A 529 plan may be your best way to save for college, but according to the latest annual ratings released today by Morningstar, not all plans are created equal.”

http://time.com/money/4544294/best-worst-529-college-savings-plans/

Credit Card Fraud in the U.S. Topped $8 Billion in 2015

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According to the most recent results from the Nilson Report, the United States is responsible for more than 30% of the world’s credit card fraud, totaling around $8.45 billion. Most of these losses are reported to be due to counterfeit cards being used at point of sale or ATMs. The new chip cards are reportedly responsible for less than 2% of all fraud, so they seem to be a person’s best bet for preventing fraud.

Credit Card Fraud in the U.S. Topped $8 Billion in 2015