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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 [...]

Technical Analysis 101

eBay-1

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

auto-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 [...]

What is Metatrader?

MetaTraderPlatform

MetaQuotes Software Cooperation developed MetaTrader, a trading API platform which specializes in manufacturing financial markets software. When this was written, the MetaTrader 5 or MT5 was the newest version but MetaTrader 4 or MT4 is used widely still. The MetaTrader package has for brokers, a server backend and for clients, trading terminal. The whole software [...]

The Baltic Dry Index – BDI

Baltic Dry Index

What is the Baltic Dry Index? The Baltic Dry Index is the daily average of prices to ship raw bulk materials. It is issued daily by the London based Baltic Exchange. The Baltic Exchange acts as the global marketplace for buying and selling shipping contracts. The Baltic Index does not allow speculation like other exchanges [...]