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Random article: The Many Faces of Greed
The desire to gain more is the most usual form of greed, which is also the easiest to recognize. For example, if for a certain strategy, 60% of winning trades are at 30.0 pips, while 30% are at 20.0 pips and only 10% are at 50.0 pips. If using this strategy a trader aims for 50.0 pips profit for every trade he/she places, then his/her decision is based or driven by greed. But greed can also come by a different facade. Prior to placing any order, a trader watches his/her chart for a certain “sign” as an opportunity to trade. When the sign is formed, the trader then looks for a “trigger” - confirmation that the said setup is valid and the opportunity to trade is real. And the trade is done in profit. Then the trader looks for another setup, wait for another trigger, and trades to gain another victory.
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Popular article: Fibonacci Forex Channel. Fibonacci in forex
Fibonacci Channel represents a sort of Fibonacci Retracement, but this time all trend lines are drawn diagonally and not horizontally. Drawn channels can serve as supportive or resistance lines. Fibonacci Channel is built with a common method: the line is put through trend's High and Low, this line composes entire width of channel and its value is taken as equal to one. Further, parallel lines are drawn through obtained channels through the levels 23,6%, 38,2%, 50%, 61,8%, 76,4%, 100%, 161,8%, 261,8%, 423,6%. It is assumed that resulting lines can serve as support or resistance lines as well as pivot or correction points of a trend.
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Forex encyclopedia “Clever FX” is the unique service created by FreshForex to introduce world of Forex to traders. The main purpose is to share knowledge of experienced traders with novice traders in simple and convenient form. Every trader will be able to learn something new here. If you are a professional trader, we invite you to write an article for “Clever FX” and get reward. Let's write Forex history together!
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