More elements of the strategy – closing profitable positions

When entering the market, you should not only set the maximum loss, but also set the minimum profit which you want to earn. In most common and best trading strategies the profit to possible loss proportion should not be lower than 2 to 1. It is very infrequent to use a strategy, which effectiveness does[…]


Why having a trading strategy is so important?

Forex market, from the trader’s viewpoint, is a very challenging market. Every piece of information can have huge influence on the currencies’ exchange rates. The exchange rates often change unexpectedly and rapidly so the lack of a proper trading strategy dooms inexperienced traders to failure. In case of such a volatile market iron discipline is a[…]