One Hour Trading without a Forex Software
Finance → Stocks, Bond & Forex
- Author Madison Stewart
- Published February 20, 2010
- Word count 466
On December 24 of this year I decided to give my forex trading software a break. I put the forex robot on pause at about 1:30 AM and started watching the market thinking that the day before Christmas would be a slow day.
Well it started out to be just that, the Euro/USD was running pretty much
a flat line, moving only about 3 or 4 pips in either direction. There was no certain position or way it was going to go as far as buy or sell. Being a forex scalper I am always looking for the trend and then for the breakout,cause when that occurs there is money to be made as long as you are on the right side of the trend.
The indicator that I had on my charts was showing a down turn in the market,it was slight but definitely on the sell side of things.
But the way it was going, I was really just guessing. Now as the saying goes, it is sometimes better to do nothing than to rush in and screw everything up.
Therefore I did nothing for quite awhile except,watch. I continued to keep track of what was going on for better than hour and then the market started to move. A little at first and then some more and it was not long before I thought it had moved enough in the same direction to consider placing a
sell order.
Okay, I have my indicators working, now they are showing a positive sell and the resistance is weakening to the point that for every pip it goes up, it comes back down two. I am feeling fairly confidant that this trend is going to continue.
This not my first time trading without my forex software, but I guess I had a Senior moment and just plum forgot why I bought the forex software.
I do remember now, as I should have before I let my forex software have a holiday break. I was doing 50/50 before I got involved with a robot, which means in the forex trading market, thatI was losing my shirt, button by button, sometimes two sleeves before I would pull out.
Now to shorten this story, I didn't lose my name just my shirt, and yes the forex robot is back in place for the trading when it starts on Sunday night.
Trading Forex is a risky business, but can be very profitable if you have knowledge, patience, and no sign of greed in you.
These are the attributes of a forex software,all the patience in the world, no greed in any way shape or form, and has been programed by the best.
Good luck to you if you are a trader or you have an idea that you want to.
Beginner Forex trader, trading only about 1 year. Multiple excuses for not making it rich on the forex market, but all in all, not having enough knowledge in the trading market is the biggest problem.
http://winningforexsoftware.blogspot.com
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