MP --- here we goes again !
Hi there, as you will probably guess I'm new to FX trading.
My question is this - I have a mini account with 200:1 leverage and I put a buy order for £10 which then goes the opposite way to -£10, what would it be be best to do - cut my losses there and then or hedge with a sell order and then look for a safer position for it to turn around where I close one position and then the other hopefully making a gain?
many thanks
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have you ever noticed when walking with long strides, that your upper torso and head actually move BACK as your leg goes forward, and then you move FORWARD and repeat the action. Troops who do a "goosestep" exhibit this the best though, although forex comes close.
going FORWARD in forex requires many steps BACKWARDS, and those moves are getting your attention. Assuming your trade is correct, what you are seeing is just a lot of trading going on, as well as "those blankety blank, @@@#$%#^!$@&%#$*$*" bankers and mms and a whole lot of "headfakery" going on, just for the express purpose of you selling the powers that be your shares cheaply ----- a side benefit to this joviality is that you give away your money, which helps the mms have a good meal at smith and wolenskys later that day !
of course, the biggie problem here is whether or not youre REALLY taking a good trade or not, so why dont you stare at the screen while the market is active and most definitely before 5pm, edt, because after that time its just you and the brokers, and its their ballfield, bat, gloves, balls pitchers and hotdogs, and its tilted WAY in their direction, kinda like vegas during the heyday of the italian americans of gambling fame !
Staring at the screen will give you some idea as to how things move without you having real or monopoly money working, and free you up to "observe" which is more impt than just diving into a demo !
oh well
mp
Any Forex guide for blondes ???
