Trading currency: EUR/USD only.

London time is the only trading time.

About the Take Profit and stop loss, usually 15-22 pips, you can set 30 pips safe Take Profit and 30 pips safe stop loss.

Most of the time 1 open trade, Maximum active trades is 2.

Money management: 1 mini lot(10000) per $1000 is OK. If your account is up 20%, then you can re-calculate your position size. For example, if you have $1000 in your account and your account is up 20%. You now have $1200 in your account. You can use 1.2 mini lot per trade.
And then if you make $240(20% on the basis of $1200), you now have $1440 in your account. You can use 1.44 lot per trade, and so on. Vice versa.

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Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.

There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.

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As you read forex charts, remember that the two fundamental approaches for online forex trading: fundamental analysis and technical analysis.

Fundamental analysis doesn’t rely on forex charts. It scrutinizes political and economic indicators to determine trades. Charts here are deployed as used as a secondary reference.

Technical analysis on the other hand, attempts to predict price swings by analysis of historical price activity. Those who use technical analysis study the relationship between price and time.

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The foreign exchange markets are all about Forex trading systems. If you are interesting in expanding your investments and learning more about how you can make money in the foreign markets, Forex is what you should be looking to understand and learn more about. Just as there are all types of investment strategies in your own country, in products and companies that are sold near where you live and work, you can also get involved in the companies and products that are sold abroad. Foreign exchange markets Read the rest of this entry