October 3rd, 2008
By: Lisa
The player will show in this paragraph
A few trades look good today!
Today is Friday, October 3rd, 2008.
I was looking through the charts for the past few minutes and came across what I think will be a profitable low-risk trade.
Do you want it? I know you do...
After looking at the Dollar/Yen chart, I see that there is a setup using one of my trading methods. I always use a good trading method for trading.
So I've decided to place an order for a short position trade.
We are going to place an order for 4 lots to short Dollar/Yen at market when it opens on Sunday.
Also, we are going to do this in 2 groups of 2 lots, so on the first 2 lots we can set up taking profits at 102.88.
The second 2 lots we will let ride and protect with a trailing stop, to catch as much of the move as possible.
However, in order to protect ourselves from possible excessive losses, we are also going to set a stop loss order at the same time. We've decided on an initial stop loss price of 106.46. This way, if the pair should reverse, we will be able to limit our losses.
Okay, well thats about it for now. Check back Sunday or Monday at PipsAngels.com to see how our trade is making out!
IMPORTANT NOTE: These are not Forex picks nor Forex recommendations. This information is provided for educational and informational purposes only. Use this information at your own risk. You MUST apply your own trading methods and your own opinions to an Angel Pair Pick to determine if a trade should be considered. Also, you do not need to trade all of the Angel Pair Pick pairs, nor should you. There's no need to place more than a few trades on any given day and our recommendation is when you get to 6 open positions, don't add any more trades until one of them is closed out.
Note: Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using Angel Pair Picks will generate profits or ensure freedom from losses.
