Friday, August 19, 2011
In this webinar, we briefly discuss the importance of trading in the direction of the major market sentiment for that day. One of the indicators that we use in the Slumdog Forex System is the RSI (Relative Strength Index) indicator and we share in this webinar how this indicator can be used to determine trend strength & direction. We also explain how it is important to wait for confirmation before you enter your next trade. It is important to have a solid understanding of support & resistance, candlestick patterns, and momentum in order to identify good points of entry in your trading. It is also necessary that you learn about the psychological role of patience when locating reentry points. You should NEVER BE AN IMPULSIVE TRADER!!
Monday, September 12, 2011
During this trading day, I entered 4 consecutive trades, shorting the EUR/USD pair . My first trade resulted in a 3.74% gain. My second and third trades were eventually stopped out with a net 0.00% loss and the fourth trade resulted in a 4.01% gain. All four trades resulted in a 7.75% increase or gain in the account balance for the day. The total number of pips were ~28.2 pips.