I want to make two real FOREX account with $250 each. One account I will buy $US against £GB, one I want to sell $US against £GB. Later, one account will profit, while one will lose and then closed, and I take profit form the profit account when the profit exceeds the amount of capital I allocate for both accounts before, more than $500. Is it possible to make money?
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July 3rd, 2008 at 5:29 am
well it's a good idea but i have a similar one which might be better for you.
Since eur/usd and gbp/usd move almost the same, why not oped 2 trades. 1st. buy eur/usd 2nd. sell gbp/usd or the way around. stop loss 10 pips from entry.
you can also place them like pending orders 10pips from actual price.
I trade this way, 8 out of 10 trades gives profit.
July 3rd, 2008 at 5:29 am
I don't understand what you are trying to do. If you lose money on one, but gain on the other, then you are left with the same amount of money.
To become a successful trader, focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.
Here is a free site that shows what has happened after economic news releases:
http://www.forexnewspatterns.com
July 3rd, 2008 at 5:29 am
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