PRACTICE TIME forex

Before we continue with more strategies and information you need to integrate what you have just learned. Below are two “questions” providing you with the highs and lows of the 8:28 and 8:29 candles. You figure out the entry points for both buy and sell positions, your stops and limits (20 pip limits). The answers are at the back of this eBook to check if you are correct. Question 1 8:28am low 1.4118 high 1.4122 8:29am low 1.4120 high 1.4126 Question 2 8:28am Low 111.25 high 111.28 8:29am Low 111.24 high 111.29 Note that these are USD/JPY and though they look different remember; it’s the last number that is a pip increment. Exercise 1 Go look at a Fundamental Announcement calendar and find an announcement that already happened, and then go to your charts in a one-minute candle view to see what happened. Would you have made money? Exercise 2 For the next week practice making actual trades in your demo account. Try to do at least 3 trades exactly as described above with a 20 pip limit. If you got them all right then you should be up 60 pips (assuming you do 3 trades). *** Please don’t trade with real money before you have some practice with this system, at least five winning demo trades (though more is preferred).