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Forex Free Training with Dave Mabe

Forex Free Training with Dave Mabe

Posted by Trader On March - 31 - 2009













Could you describe your ordinary trading day and your average deal?

I take my exchange currency trading routine very seriously. I thoroughly investigate my trade in order to see how I can improve some trading aspects and forex trading system . I may be considered to be a lazy person, but is there are some tasks I do too often, I will try to do everything possible to have these tasks done by my computer.

As a result, I have most of my trading routine automated. The list I am watching through automatically provides me with new ideas. As well, I tuned my program the way my optimal position length is counted automatically. As well, all of my deals are well recorded and I may later retrieve them.
Such automation provided me with much more free time for other actions like development of my trading strategies. As well I started adding new completely automated strategies into my trading.

What is the deal decision making process you go through before entering some market or specific deal that could be worth opening the position?

I use the probability theory in my trade. I know how the market has been behaving recently and in some previous situations while alike currency market news (as I used to make thorough records of my deals) and I may forecast the development of current happenings. For example, I know from reports that the StockTickr after 11.00 has diverse expectations on several strategies – they tend to loose money. So I will not be closing world currency markets deals on these strategies after 11.00.

As well, taking into account my previous results and currency market updates, I decide where the deal aim may work out or may be necessary to replace a primary job-order as the deal is changing in some direction. Availability of such information enables me to make the profit probability higher as I see some relations of previous deals results.

What is your methodology of finding the best trading opportunities?

I am actually searching just for several technical indicators. If they appear, I make deals, if not – I am staying out of the market. So my aim is to find such opportunities as soon as possible using automation.

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