This blog is totally free forex guide for forex trader. If you are forex newbie, it is very useful for you to read from beginning. If you are forex trader you can try my indicator. I also welcome you to discuss with me about your indicator. I was indicator tester and only recommend you the best. You can email me at : lumpakis@yahoo.com

Tuesday, June 24, 2008

Where? When? What? How?

This is some popular question that my friend have ask me:

1.)Where to trade?
2.)When to trade?
3.)What to trade?
4.)When to open the position?
5.)Where to place the stop loss order?
6.)When to close the position?
7.)How much money to trade in each operation?

So this is my simple answer for that popular question:

1.)Marketiva platform (www.marketiva.com)
2.)Forex market is open 24 hours a day from monday to friday. You can trade anytime you want. But the best time to trade is when both currency open overlap. For example : The best time to trade Gbp/Jpy is Japan open (close) and Great Britain close(open) in Malaysia (+8 GMT) is at 5pm. (7am).
3.)I trade in all currency fo 4 hours timeframe and scalping on GJ, GU and EU intraday.
4.)When my indicator say yes. I not open my position 1 hour before and after high impact news on any currency.
6.)I never put my stop lose since i have big margin call.
7.)I put my trailing stop at 50 pips, 100 pips, 150 pips, 200 pips, 250 pips and ......
8.)I just use 10% money management for all currency not 10% for every pair.

:-). Enjoy your trading

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