The Best Way on Forex

[nemo328p]

Originally Posted by Sasho

Can somebody explain please when a LIMIT ORDER SELL when a STOP ORDER SELL are issued. What is the difference between the two in which case the first one is used in which case the second.
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If you want to sell a p a resistance level the limit sell is used. If you want to sell a p the breakout of a support level the stop sell is issued.

Use EUR/USD as example the present price is around 1.2280. If you want to sell this p the price of 1.2320 then you set a limit sell order. Once the price reaches 1.2320 the pending order will be activate.

If you want to sell at the breakout of the 1.2270 support then a stop sell order can be placed at 1.2268/2261. So when the price drops below 1.2270 the stop sell pending order will be activated.

Both conditions apply to bearish market if you believe the market is going down.

Limit buy stop buy apply to bullish market. limit buy is buying below the present price stop buy is buying of the resistance level breakout (above present price). Hope this can help.

Note: the numbers used are just for demonstration purpose. They may not reflect the true market conditons.

[abosarah]

I prefer to develop my own system.
I know its nead time but i think its the right way to get seccessful in this market !!!

[Achip]

I too believe that you need to develope learn on your own at your own pace that fits your life style but working with a mentor to help you underst basic indicators how they work in which situations would definitely help to preserve some capital.
I believe in using demo accounts to some extent but until you use real money you'll never develope a true system that works with your stomach.

y

[draganfx]

Very well said I am new here just trying to learn

[Askjo]

To study FX is to learn how to trade it but to learn your risk on FX because it is very complicated.

When I studied FX by using a demo I realized that I have many mistakes on trading but I practice practice it since almost one year. I improved myself a little bit.

[gar]

Was wondering if there are sources for being couched by a forex professional while observing charts so that a blow by blow evaluation of the Euro can be done simultanteous to a pro's actions observations noticing his or her actions on the trade while you observe the trade. This procedure works particularly well with couching mentoring done in the real estate investment field whereby a couch is on h to answer questions assist teach with the decision making process. The two things we have learned in real estate is that one needs a (1) System (2) Couching. One out of two results in failure as would be true in a couch in athletics or in other activities. Are open to suggestions in this area. I do already have sources of education such as DeMark Nison. Many thanks regards! Gar

[Nick Tompson]

I voted for "develope your own system" this also imply's that I found it best to study on my own via forums forum friends starting with MoneyTec

[PipCrawler]

The best way is to definitely develop your own system. That doesn't mean that you have to start scratch. You can borrow ideas one or more systems incorporate your own ideas until you find a set of indicators time frames or news events you are most comfortable confident in trading in. Besides if you blindly follow another system or guru how will you ever learn to adjust get a feel for the market...