Trading in Black and White Forex Trading Newsletter - 17/05/2006

Trading in Black and White Forex Trading Newsletter - 17/05/2006

OK, we admit it, this is still a good trading week for us. A few weeks ago when he made 700 pips, we did it in a market that was incredibly volatile. There was a 300 pip moves during the week.

This week, however, caught the full range of trading Monday, even netting 40 pips on a trade and 100 pips on the other.

Using the same trading levels took a long last night and again Netter total 140 pips.

Although there are some great reasons to go long the withdrawal of 1.8850 at 20:00 EST, we did not take long because we were not in front of the screen. It's okay, no crying over spilled milk for us.

Thus, in the last two days were a total of 160 pip range. We have 100 pips grabbed her ... YAY! Generally, the goal is 60% - 70% of the total number of moves. So in this case we are right to be spread. It is over the lower range, but we're excited.

Our goal, even with all our trading experience, is 100 pips per week. In "Trading in Black and White Forex Trading Course" to go over a very detailed schedule mixes and money management system that explains this in detail.

So, now trading tonight.

Just like yesterday there is no clear resistance level to play. Also, just like yesterday we should point out that there is a "make shift" resistance level to watch if you are in front of the screen when the price gets there. This is bad .... drum ... 1.9000.

Face it, even just looking at that number makes you jittery, nervous, excited, anything! Integers are affecting retailers as well. We want to see interesting commercial activity. We discuss all trading strategy in "Trading in Black and White Forex Trading Course", which turns only on large numbers.

So if you are around if and when you get to 1.9000, pay close attention to price action. You may be able to find a good short or long good based on what happens at this level.

Again, like yesterday, beginners should not be looking to trade at a level that is not a more clear picture of the resistance.

As far as support goes, we will be looking at several different levels. Indeed, we are conservative in our sales so you'll be able to guess what level will be watching closely in a minute.

On the other hand, many of our traders are more aggressive than we are and we'd like to share our thoughts with you.

1.8890, 1.8860, 1.8820, 1.7760 are all "valid" levels of support. Obviously, you should make sure you get a good price action, especially at higher levels.

We will try to keep an eye on 1.8860 and below. It means that 1.8890 is a good trade. We found a trading style that works for us, and we remain committed to it. So far, all styles are tried with Exchange, this is the most consistent and profitable one.

You should take the time to learn how to develop your own trading style. Too many so-called Forex gurus teach you to imitate their trading styles. So what good is it? What if their style no longer works, as you are going to adapt?

With the proper forex trading, education will be able to decipher some of their systems, and eventually develop their own. Believe me, there's no better feeling than being an independent trader.

We believe that these support and resistance levels using a set of technical indicators and other variables that were found to be very successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit all of our trades. Each merchant will have a different combination of indicators that makes the most sense for them. Learn how to develop your own successful Forex Trading style with our Elite Forex Trading Course or Forex Seminar.