As we pointed out yesterday, the unique feature of the 5EMAS Forex System - which is a different type of Forex trading system - is around trading pullbacks, and we defined what a "pullback" actually means.
Today we go into more detail about what trading pullbacks actually involves. Basically there are five stages:
- Identifying or recognizing the general trend. For the purpose of this type of currency trading, you are looking for an up-trend.
- Identifying the beginning of a falling back or "pullback" from the general trend.
- Wait for the end of the pullback.
- Use an indicator - e.g. moving averages convergence/divergence - to confirm that the pullback is really at an end.
- Open a trade, making sure you use stop-loss and take-profit orders.
I must emphasize that to understand EXACTLY how to do this type of trading to make sure you end up in profit, you have to use the 5EMAS Forex system itself. So do take a look at it. The 5EMAS Forex system is a Forex trading system that is different from the others on the market and is specially designed to help you get into currency trading.
But in the next few posts, I will go into more detail about how to recognize a trend in currency trading, how to use an indicator, what stop-loss and take-profit orders are, etc. I know these things sound very mysterious if you haven't yet got into the (incredibly exciting!) world of Forex trading. To find out more about it go to http://www.bizwrite.co.uk/Forex/forexindex.html
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