In this session our Senior Analyst Ian Coleman discusses the importance of sound Money Management including Risk / Reward ratios, account drawdown, building in and out of trades and the value of knowing when to cut your losses and run your winners.
“EURUSD – USD weakness across the board resulted in EURUSD breaking the sequence of 4 negative daily performances yesterday. With the intraday chart now posting higher highs and lows, the bias turns to the upside. However, this could be short-lived with the previous high at 1.2929 ‘lining up’ with a 261.8% extension level (from 1.2795-1.2847). Risk/reward is just ample to call a buy this morning. The call is Buy at the 7am open with a stop at 1.2861. The profit targets are1.2916 and 1.2929. A break of this level is unlikely but the market should focus on 1.2942
The risk would be selling through a stop of 1.2861
... [Read more]”
Risk Warning: Trading spot foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives... [Read more]
Disclamer: The analysis, data, and any visual graphic charts or pictures contained herein are provided "as is" and without warranty of any kind, either expressed or implied. First4Trading or any First4Trading affiliates or employees, or any third party data provider, shall not have any liability for any loss sustained by anyone who has relied on the information contained in any First4Trading publication....[Read more]