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Monday, December 20, 2010

Forex Trading

Have been making bad calls in Forex Market, and I have been violating my rules. I am 1% down.

Have to stop it for awhile, was applying trend following strategy in Forex market but failed. Have to watch for major moves, and since it is almost the end of the year, I do not see any major moves in currency, since most economic managers are in vacation mode, so I believed currencies would be side ways. Meaning, maximum 50 pips gain only, this is for day traders. Trend followers want to catch big moves like the chart below, 4000 pips not 20 or 50 pips.

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