Comments on: Learn Forex #3 – Win more trades

By: xolo

xolo — Sat, 16 Apr 2011 18:05:15 +0000

Thank you mark. So even if then it is retracing. This is good to know.

By: piphut

piphut — Sat, 16 Apr 2011 17:44:52 +0000

Hi @xolo, frequently for MAJOR S/R (4h, daily, weekly that has been tested at least twice) when it is broken we will see a *pop* in the direction of the break. We call this a "breakout trade"

By: xolo

xolo — Sat, 16 Apr 2011 14:58:57 +0000

“I often will place a buy order above resistance (or sell order below support) because I know if major support or resistance is broken you will usually see a 30-40 pip run”

Mark do you mean that when a resistance is broken you usually see a little 30 pips run independantly of the fact that
- it is a real breakout that will continue up to the next resistance/support
- or a false breakout that will reverse quickly

Just to fully understand, thanks in advance and congratulation for your site,very helpful!!

By: Ricky

Ricky — Sat, 06 Nov 2010 17:07:46 +0000

price often breaks through its support/resistance a few pips then reverses and continues in its original direction

By: okpanachi, j

okpanachi, j — Wed, 06 Oct 2010 09:07:54 +0000

from my experience so far;it’s logical to move your stop order to break even when there are so many resistance up there or down there to be broken blw 5 and 6 pips so that if the price action hit your stop order at break even you lose nothing.that’s my own opinion,i may be wrong and you could enhance my understanding.thanks

By: Akpos

Akpos — Sat, 18 Sep 2010 23:26:30 +0000

” I often will place a buy order above resistance (or sell order below support) because I know if major support or resistance is broken you will usually see a 30-40 pip run”
Thanks for this comment..It is actually a confirmation of my observation as well. Loads of thx for the good work..

By: FredP

FredP — Mon, 02 Aug 2010 14:58:38 +0000

Being new to forex trading i will definitly consider a micro account for now as this makes more sense for a beginner, the info on multiple lots makes also more sense now if you are sure of the direction of the pair. thanks

By: adebayo

adebayo — Sat, 03 Jul 2010 16:06:21 +0000

@PIPHUT. point #6 is a typical example of what took place on th 1st of july, i wish av read this article before now and i wish a lot of th members too were aware of this point also, we will not av suffered the losses made on that move and perhaps we may have enjoyed part of the profit also. however, i still dnt get #5 very well, ineed a clarer clarification on this in particular. gret work again. i pray God keeps you and your family for us forever. amen.

By: Sonal

Sonal — Wed, 02 Jun 2010 04:07:45 +0000

Hi Mark,
Can you please tell us how to use ATR. Have heard a lot about it for checking volatility and also stop losses. But am not able to find a good material, so that i can start and use it.

Regards,
sonal

By: piphut

piphut — Mon, 19 Oct 2009 15:21:28 +0000

Anton, all of the points listed in the article are about reducing risk. Examples are using larger time frames, practicing on a demo account, using entry orders to take emotion out, use ATR to gauge volatility.

In the article above I’m not just talking about the size of your stop loss (though that is a key component) – I’m talking about taking smarter and better trades to begin with. It is about being prepared and confident in your trading decisions.

By making smarter decisions (through the points listed in the article) you are increasing your chances of a successful trade – the whole point of the article