12 March 2008

GBP/JPY - SELL @ 206.72 - Exit + 10 pips profit

Hello again,
Here I am with some words for today's trade.

Because I have a life and I live it I can't be and I don't want to be 24/24 in front of the computer, so I miss many trades but that's not a problem, because I know market gives signals everyday and I will sure recover the following days.

So, here is the trade for today, maybe someone caught it:

This is a trade that not everyone should try. Why ? Because in this situation Spread counts all the time. GBP/JPY is a pair that is offered by many brokers at a 7-13 pips spread. In this situation if I had a 8 pips spread I would miss the exit, because the price went only 17 pips in the 4 minutes. Than the price went 25 pips Up, but not more than 10 pips above the high of entry bar, so that was a good time to stay in the market (This only if you had 8 or more pips spread.)

Many rookies or beginners or newbies choose the wrong Broker when they decide to trade Live in Forex, that's why some think that nothing is working. But, when you will try a broker that offers you a good spread you will discover the real power of Forex movements and 80-90% assured profit if you trade correctly.

So that was all for today. I will watch EUR/JPY because divergence formed alread.

Happy pippin' !

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