Daily Chart USDCAD Entry Orders

usdcad trade

Today I placed double entry orders on either side expecting a sideways market. A breakout to either direction will trigger a long or short trade. Double entry orders long and short The markets are still in upheaval after the US credit rating downgrade. The economic calendar shows medium impact news for Canada being released on Thurday [...]

Daily Chart EURUSD Short

euro short

Enter Short at 1.42 I entered a short trade at about 1.426 today. I am expecting further losses for the Euro. However, I have a tight stop incase the market decides to rally today. If todays daily pivot is broken (the gray line) I expect further losses down to at least midway to the next [...]

Life Insurance for Day Traders

Are you a full time day trader? Interested in becoming one? Then you will need to set up a financial strategy to manage various risks. This could be the risk of illness, accidents or even death. That’s why you will need to look into life insurance. You can check out a price comparison site that [...]

Technical Analysis 101


Technical Analysis is not very difficult to learn. If you can spot patterns and like looking at pictures, then you can learn technical analysis.

Trailing Stops are Like Insurance


In forex, trading without a stop loss is pretty dangerous. I remember when a friend and I were trading and suddenly the internet went out. We were freaking out! What was the market doing? Were we losing all of our account balance? If we had placed an immediate stop on the order, we would have [...]

Average Directional Movement Index ADX

adx and parabolic sar

What is the Average Directional Movement Index? The Average Directional Movement Index, or ADX, is a technical indicator used to measure the strength of a trend regardless of a bull or bear trend. Like the Relative Strength Index, it aims to quantify trend strength. It was developed by J. Welles Wilder who also developed the [...]