When do I take Profit in my Trade?

One of the key challenges new traders face when they get a great trade is:

"HOW LONG DO I KEEP MY TRADE???"

The natural instinct is to grab the few dollars and run, because we are always hard-wired to survive. The other less natural, but prevalent opposite is to let it run forevveeerrrrrrrr.....

Now, in our advance segment (not that we charge you extra! ;) it's all-in-the-cost), you learn about using 3 day pivot points.

These two examples are reflections of the same market move - the GBP Sell off.

Now, when it hit that key RED LINE. That is the point we take our profits and GO! Simply because it is also the same GREY LEVEL for both our pairs.

I personally think that the market would move about 30% more in a jagged fashion (that's for another class), but I would still take it once it hits that GREY LEVEL. 

Why?

It is the EASIEST phase of the money to make.

Always go for the easy bits, and enjoy the rest of your time!

P.s.: If it is in free-fall in between, you should never take out the trade! It is supposed to run!

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Coming UP!!

Our 3 Day Pivot Point System will be up on sale, together with MT4 coding at a ridiculously low price. Its almost just like charging you for labour only!

I don't know how long it would be on offer, but WATCH for this space, and grab it while it lasts!

* It is suitable only for people with some trading experience.

* Learn where to place your stops

* Identify dead zones

* Mark out best value returns

* Warning signs to stop you from entering trades

Be Warned! - This is a sports car, i.e. you need to have basic trading education, but this is your SUPER racing tyres. It gets you anywhere faster, sharper and safer!

Jointly developed with one of our fantastic grad!

Look out for it!

See the full gallery on posterous

Posted via email from Forex Driving School!

Of Micros & Nanos - Best Brokers to Start With

In these recent 12 months, many brokers are now jumping on the bandwagon to allow smaller volume transaction units.

I think this is a fantastic move, because it allows new traders to get live as soon as possible without risking too much capital.

The concept has all awhile been very simple to me, yet I believe brokers do not bother to give you small units because it encourages lower volume (i.e. lower revenue). However, market tide has changed, and they are forced to listen to the consumer.

Here's a list of the best places to start an account with!

Oanda.com - Our recommended broker. Unbeatable "buy-as-you-wish"

City Index Asia - Local Singapore broker, minimum Volume is 1000 units. Currently, the lowest in Singapore, with no-strings attached. We have a referral structure with them. Sign up through us, and you pay exactly the same rates etc, but we'll accumulate your rebates and work out a loyalty reward for you. Contact us at ask@forexdrivingschool.com

New Entrants (In last 12 months)

IBFX.com - Use the nano-lots (or super micro, i can't remember the name). It is 100 units per transaction minimum.

FXCM.com - They now have a micro-account, which they are aggressively marketing.

Note: I know there are some small brokers that also offer micro-units. I rather you sign up with one of these large brokers listed above. The benefits are endlessly more.

Enjoy your trading! Always start small, because it feels different when trading with different sums of money.

Cheers,

W

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Forex Driving School - Singapore's most structured Forex Education centre. Read our tons of testimonials to find out more. Whether you are a beginner or a pro, you will have a shift in your education, or your money back!

www.forexdrivingschool.com

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Posted via email from Forex Driving School!