More importantly, trade pairs that have a direct negative or positive correlation. There are only a few pairs that have this relationship; however, it drastically reduces your risks.

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Why day trade once you get a good seat and the market is going your way. It is always more profitable to ride even the short wave for 2-10 days by adding up. In general, you must day trade only when you are losing. To find a buy entry seat for short-term trades, you can study the "accumulation and distribution patterns and 20 MA" in 8, 4 hourlies or 30 min "Line Charts" (or Candle Charts), together with MACD "overbought and oversold indicators" with its Patterns. If you study them for awhile you will understand when it the best entry point. The remainder is for money management and discipline and of course, experience. Good trades

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Please always give stop order per your risk profile when you open any new position. Medium-term reversals can be confirmed only in monthly, weekly and daily charts. Chart reading is not to predict the tops or bottoms of any move, but to confirm the change of trend as soon as they are made and adopt right strategies in that new trend. Good trades.

For position traders, the basic bias of the market in his trading time frame, the liquidity situation of the market in that time frame, and the size of trading positions must be all taken into account when exercising stops, be it based on tech levels or a certain sum of money or a percentage of a total equity. It is a must but also it is form of art like trading itself. And every trader must develop his own unique style of using stops. But unfortunately, all this can be learned only by paying a certain amount of tuition fee to the market.

Yes, but as a position trader I never use tight stops. Same goes for trailing stops. All very far away from the market not to be taken out by meaningless market noises. Initial stop is always 1% of my total equity, and never commit the whole position at a go but always scale in and scale out.

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Managed Forex Accounts

At sigmaforex we offer professionally managed forex accounts for private & institutional investors. Our range of products varies from classical managed forex accounts with certain leverage for aggressive returns up to 100% capital guaranteed

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Order Types

Buy Market

Attempt to buy at the best available Ask price.

Buy Limit

Attempt to buy at the price you specify or better. This type of order should be placed below the current Ask price.

Buy Stop

Attempt to buy at the price you specify. Once the Ask price touches or goes through this buy stop order, it becomes a market order and filled at the best available price. This type of order should be placed above the current Ask price.

Sell Market

Attempt to sell at the best available Bid price.

Sell Limit

Attempt to sell at the price you specify or better. This type of order should be placed above the current Bid price.

Sell Stop

Attempt to sell at the price you specify. Once the Bid price touches or goes through this sell stop order, it becomes a market order and filled at the best available Bid price. This type of order should be placed below the current Bid price

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