We love Trends. Trends are our best friends! Don't ask me to predict where the market will go. Honestly, I don't know, and I never guess. I respect my Trending System, I never try to outwit my System. Why? Because my System keeps making money for me, it's that SIMPLE! Remember our favorite oldie: "I Will Follow You", dedicated to our best friends, the TRENDS.
Please visit our trading system website: http://speedwealthbiz.com
Monday, February 16, 2009
Forex Trend Alerts: 02/17/09
Currency ---- Trend ---- Position ---- Stop ---- Comments The market is in a pretty lackluster trading yesterday due to US market holiday, all positions remain unchanged.
Yes, we were stopped out at 6420. Now our system reversed to Short with stop at 6670. Fundamentally, the dollar is getting stronger at this moment.
Bear in mind, to trade with a system needs persistency and patience, you won't get all signals right. Sometimes you might get some whipsaws (false signals), losing some money. (That's why Money Management is very critical in Forex trading to preserve your capital while commiting the wrong trades.)
However, once you're on the right trend, just let your profits run until the trend reverses again.
Hi Michael,
ReplyDeleteWhat's happe4ning with Audusd? Knock out at 4620.
Hi Newbie1,
ReplyDeleteYes, we were stopped out at 6420. Now our system
reversed to Short with stop at 6670. Fundamentally, the dollar is getting stronger at this moment.
Bear in mind, to trade with a system needs persistency and patience, you won't get all signals right. Sometimes you might get some whipsaws (false signals), losing some money. (That's why Money Management is very critical in Forex trading to preserve your capital while commiting the wrong trades.)
However, once you're on the right trend, just let your profits run until the trend reverses again.
Have a good trading day!
Michael