| When selling a currency pair, what order do I use to take profits?

When selling a currency pair, what order do I use to take profits?

tim_b44510 asked:


I am reading and learning forex trading using a demo account. I am selling the USD/CHF. I have my buy-stop in place above the market in case it moves against me. I learned this is a good money management practice. I have my take profit target set but do not know the order to implement that will allow me to leave the computer and not have to monitor the position. Any advice from the pros will greatly enhance my learning experience. Thanks so much!

Related posts:

  1. How does momentum and volatility work together in the currency markets? Dave aka Spider Monkey asked: Is it better to be...
  2. What is the best free forex tracking program for technical analysis? lxvnrsw asked: I’m just starting forex trading and was wondering...
  3. Why trade Forex? ahefner_33 asked: Hello. I have been studying for about 6...
  4. Learning about Forex can anyone give me some tips? nahmas_2006 asked: I would like to start trading currency. I...
  5. Currency Trading: is it a viable long term way to make money from home? Necip C asked: I went to an introduction to FOREX...

Filed Under Investing | 3 Comments

Tagged With , ,

Comments

3 Responses to “When selling a currency pair, what order do I use to take profits?”

  1. homeRunTrades.blogspot.com on September 15th, 2009 3:22 pm

    place a limit order for the target price you want. and if you are leaving your computer, you might also want to place a stoploss order.

    There should be a button you can click for that, depending on which broker’s platform you are using.

  2. ajb on September 17th, 2009 6:57 am

    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:

  3. F.H on September 19th, 2009 5:11 am

    Since you are in the process of learning Forex, therefore, I would say concentrate on learning Trailing Stop, Buy Stop, Sell Stop and Stop loss. Personally, I don’t use ay stop loss, but, trailing stops are really good to me. Just see my statement: