Chapter 5
Putting Your Trading Plan in Action
In This Chapter
Opening a position at the right time and with the right strategy
Making sure you enter everything correctly
Actively administering your trades
Taking profits — or not
Doing some post-trading analysis
This is what it all comes down to. You've done the research, you've looked at the charts, you've developed your strategic trade plan, and now it's time to put it to work. If you thought economic data mining and chart analysis were the hard part, wait until your adrenaline starts pumping after you've entered the trade. This chapter takes you through the concrete steps of opening a position in the forex market, monitoring the trade while it's active, closing it out, and doing a post-trade analysis to refine your trading going forward.
Getting into the Position
You can make trades in the forex market one of two ways: You can trade at the market, or at the current price, using the click-and-deal feature of your broker's platform; ...
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