tinadavis50 https://blog.dnevnik.hr/tinadavis50
srijeda, 15.06.2011.
economic announcements
Let’s take a look at how you could set up your parameters for
this trade. Entering a trade based on economic announcements is a
four-step process.
¦
Step 1. Determine which currency pair you are going to use
in your trade. In the case of the balance of trade information,
we chose to use the USD/JPY because both currencies play
such a large roll in the announcement figures.
Putting It All Together—Trading Techniques
¦
Step 2. Identify the current trend. Again, we use the moving
average to do this—only take trades that are moving in the
direction of the trend.
¦
Step 3. Watch the announcement. If it comes out as you
thought it would, place your trade. Because balance of trade
numbers are released only on the second Thursday of each
month, we only have to pay attention once a month to play
this strategy.
¦
Step 4. Set a close stop and a reasonable limit or target. In
the case of the balance of trade announcements, we set a
50-pip stop loss and a 200-pip limit order to take our profits.
This gave us a 1:4 risk/reward ratio—which means we would
have to be right only one time out of four to make money.
Using these rules, you would have had a signal to enter a trade on the
USD/JPY on January 11, 2005, as the balance of trade announcement
was released as expected. The balance of trade between the United
States and other countries grew, which should weaken the value of
the U.S. dollar. The moving average was also pointing down at the
same time. This confirmed the trade.
casino online
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