Update on supports and resistances. ( 17/02/2012 09:59 )
Pivot: 1.308
Our preference: Long positions above 1.308 with targets @ 1.319 & 1.3215 in extension.
Alternative scenario: Below 1.308 look for further downside with 1.304 & 1.297 as targets.
Comment: the break above 1.308 is a positive signal that has opened a path to 1.319.
Key levels
1.324
1.3215
1.319
1.3124 last
1.308
1.304
1.297
TIPS
Never risk more than 2-3% of the total trading forex account One important difference between a successful and an unsuccessful forex trader in forex Market is that the first is able to survive under unfavorable conditions on the forex market, while an unsuccessful forex trader will blow up his account after 5-10 unprofitable trades in the row.
Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
Hey Everybody,
BalasPadamI've created a list of the most recommended forex brokers:
1. Best Forex Broker
2. eToro - $50 minimum deposit.
Here is a list of the best forex instruments:
1. ForexTrendy - Recommended Odds Software.
2. EA Builder - Custom Strategies Autotrading.
3. Fast FX Profit - Secret Forex Strategy.
Hopefully these lists are helpful to you.