By Steven Lombardi
Includes a distinct rationalization of over twenty eastern candle styles, approximately twenty symptoms, basic occasions, chart styles, Elliott waves and Fibonacci degrees.
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Extra resources for Bless My Pips - A Forex Trader’s Guide to the Currency Market
These events can include bank releases of interest rates, unemployment rates, vehicle sales … anything that directly correlates with a country’s economy. Let me take you a bit deeper into the forex market to show you why these events affect price so much. The heart, brain, and nerves of the forex market are its traders. This means that the forex market is being controlled by thousands of men and women who are doing everything in their power to make money. If a large number of these men and women buy into a currency, the currency will strengthen.
To revisit a thought previously mentioned, if you want to make money on 3 The high degree of leverage can work against you as well as for you. com 31 the market, you have to make sure that price moves favorably in the direction of your trade more than what you paid for the spread. In other words, if you paid three pips spread to initiate a EUR/USD trade, price has to move in your direction greater than three pips in order for you to make profit. If you close a position with three pips profit, this means that your trade broke even.
Your eyes would shrivel up into little beady raisins. You don’t want beady-raisin eyes; they look disgusting. In the attempt to save the eyes of traders around the world (and for various other reasons, I’m sure), take-profit and stop-loss orders were created. A trader can set take-profit and stop-loss orders the moment he or she opens a new position. com BLESS MY PIPS position will close after you make a certain amount of profit that has been predetermined by you. 1 to see what the take-profit order looks like in the ExpressFX platform.