Hi, I'm new in Forex. Can you give me some example on trade lots in multiples of 2? Thanks

Hi, I'm new in Forex. Can you give me some example on trade lots in multiples of 2? Thanks

Hi Pipcrawler, your trading rules are ingenious. Wonder for situation where market position did not hit PT1 and PT2 and went directly to SL. Shall we close the position by 2 same SLs or we shall have another SL? Thanks in advance.

Sounds,Sound Advice! Can you please confirm what you mean by "Trade lots in multiples of 2"?

New to your BLog. Really dumb question. I took a tip today and did the USD/CAD play off the Canada interest rate cut. Unfortunately, I believe I took the wrong position. I clicked on the right side USD for 10,000. In my practice account I then lost around $50. Should I have sold USD instead of bought, and clicked the left side?

can we get these an alerts on our cell phones when they come up?

I have nearly bled down 80% of a practice account and have realized that I must be doing everything wrong, way too much. I have not kept track of accounts and made way too many trades. Help! I find that there are many bad guys out there as I spend downtime watching "You tube"videos. Thanx. (first time noobie)

Unbelievable! Thanx. I will do it.Tell me what your think of bots?

I am tangled up in stops and so forth and can't figure how to use "fibonacci" tool on dealbook360.

I use the fxcm and loved it but can't remember what happened.

WOT no replies

"Trade lots in multiples of 2" is a popular practice by many trading teachers. Simply put, it's just a way of saying if the price goes in favor of your direction, yet not fully reaching your expected Target Price (TP), you may consider close half of the position for a small win, leaving the other half of the original entry keep floating until it reaches your original TP, which was referred to by Pipcrawler as TP2. It is based on the assumption that your initial exit, TP1, has a high rate of beating the S/L. In other words, say the TP1 is exactly equals the S/L, then you better have a very high rate of reaching TP1, or else, even a 50% chances of reaching TP1 would make your overall trades more likely to be resulting in losing cuz' every time the S/L was hit when the price fails to hit the TP1, you may lose more than win, unless, of course, TP2's profit ratio is so high that it is capable of offsetting the losing.

Great advice; As a beginner I have used this technique a couple of times and has worked out well. I am solely into my gauges except when the standard deviation picks up. I am learning how to read the line without them but they come in handy on short term or day trades. I am drawing trend lines only from what I see on the chart and have no formula for future predictions yet. I have not mastered future charting predictions yet as newbie. I follow the hourly system and rely on other websites for my charting. Any advice of how draw future predictions on charts would be great. I am clueless in this arena. Other than that having a micro account I have gone long on EUR/NZD $2.17 at last price hope to see 2.24 or 2.28 from its history. If it takes a dive I will exit the position quickly! I also like CHF/JPN and have gone long for a position of $94.00. It's last price position was $90.386 so; I have long wait I guess. From my research history it may hit $100.00 however reports of slow exporting may change this. If anyone has owned this currency before and familiar with it's swings I'll take any advice as newbie on it. So far trading is fun but can be stressful when things don't go as planned. I try to read all the posts to learn new things and it has been interesting so far. Until financial disaster strikes I will be regular poster. ZONEDIN