CURRENCY ADVISOR
Japanese yen ◦ euro ◦ Swiss franc ◦ British pound ◦ Canadian $ ◦ Australian $
(These recommendations are based on our daily and weekly technical and fundamental view. We anticipate the typical holding period to range from one-week to several months.)
We anticipate 2-5 recommendations per week.
Example (sample) of recommendation to sell euro (spot and futures in the same recommendation):
Forex:
Sell EURUSD @ 11783 STP / SL 11980 /PT1 11390 /PT2 11000
Futures:
Sell euro Dec '06 @ 11800 STP / SL 11999 / PT1 11407 /PT2 11017
PT1 = 1st Profit Target PT2 = 2nd Profit Target
Recommended methodology once in a trade:
- Always trade with a trailing stop. Never enter a trade without knowing before hand how much risk you will take in a trade (that is one of our core beliefs). We have defined that risk for you with our initial trialing stop-loss recommendation. And will recommend places to trail a stop if we are fortunate enough to be in a winning trade.
- Trade in contract sizes that are multiples of two. You never know if you are catching a trend or just a correction even when you are initially correct in the direction of the trade. We have found by trading the position in ½ increments, often (or when we’re lucky) we are able to grab profit at our first target, even if the market later turns against us.
- Move your initial stop-loss to break-even entry if the first profit target is achieved. If this works, you are assured to lock-in some profit on the trade and should the second-half of the position continue to move your way, you can move your trailing stop to lock-in even more profit. However, if the market moves against you and the initial stop is not moved, you will lose the full stop-loss amount. The stop will only trail if your profit target is reached.
Please do not hesitate to contact us should you have any questions about any aspect of the service.
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