The rally extends across the cryptocurrency sector! Welcome back everyone to this week’s edition of my Bitcoin - Forex Combo Strategy. At last week’s update “Bitcoin - Forex Combo Strategy: The Facebook Coin” I outlined that I closed my short position in Bitcoin at a nice profit and that I was willing to short if we would see an unwarranted spike in price action. While I remain overall bullish on Bitcoin long-term, which is why I keep hodling my long position, the path to $10,000 won’t be a straight line up. We will see strong moves higher...
The second biggest election in the world, trailing only India which also just concluded and gave incumbent President Modi a major victory, are behind us. Over the next few weeks, as the EU Parliament will be reshuffled, forex traders will assess how this may impact the Euro moving forward. The EU has been plagued by infighting and slow bureaucratic progress and after the new mix of politicians following heavy losses by the Grand Coalition, this will only get more complicated over the next five years. This has possible been the most important...
Short-term trading is one of the most popular forex trading approaches adopted by retail traders. Being the ideal place for short-term trading opportunity is one of the factors that make the forex market very popular. A short-term currency trader typically aims for small to moderate gains but initiates a large number of trades over a specified period. Successful short term forex traders have back-tested their trading strategies, either manually or thru computerized back-testing software. The goal of many short-term day traders is to produce a...
2015 was a tough year for me as I suffered a breakdown, a few days in the hospital and then a burn-out phase. Stress was the cause as my doctors pointed out and that was the time I knew I had to change something. My name is Pravind and I am from Port Mathurin in Rodrigues. We are an autonomous island with a population of about 42,000, 6,000 of which live right here in the capital of Port Mathurin, and a Mauritian dependency as we belong to the outer islands of Mauritius. I am 52 and a full-time, small scale cattle rancher as well as part time...
All professional traders and large institutions use support and resistance levels. Traders use support and resistance levels to trigger trades and to set their targets. Importantly they also use them to set their stop losses which will get them out of their trades if the market goes against them. Support and resistance levels play a part in every market and on every trading timeframe so whether we are day trading or swing trading finding and drawing high probability support and resistance levels is a key skill to have and should be part of our...
