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Trade Forex Successfully with
Support and Resistance Strategies


Improve Your Forex Success with Valuable Techniques.

Trade Forex Successfully with Support and Resistance Strategies

- About the Course
  Developer

- A message from TCFX

Forex Basics

Support and Resistance Theory

- The Pizza Incident

- Support and Resistance
  - Video

- The Depth of Support and
  Resistance

- Nothing is Guaranteed in
  the Forex Market

- What is the Point Then?

- Applying Support and
  Resistance

- Applying the Rules:
  Rules 1-3

- Applying the Rules:
  Rules 4-6

Forex Basics

Head & Shoulders Trade

- Head & Shoulders Trade
  [Continued]

- Entering the Head &
  Shoulders Trade

- Exiting the Head &
  Shoulders Trade

- Example of the Head &
  Shoulders Trade

- Head & Shoulders Trade
  - Video

Forex Basics

The Firsty Trade

- Firsty Trade - Video

- The Setup

- Wait for it...

- The Entry Point

- Recap of the Firsty Trade

- Recap of the Firsty Trade
  [Continued]

- Exiting the Firsty Trade

Forex Basics

Conclusion

Exiting the Firsty Trade

Getting into the trade is one thing. However if you are not able to get out of the trade in a profitable manner, than all the hard work you did setting the trade up was for nothing. Below are the suggested methods for exiting a Firsty Trade.

Exit Strategy 1: Trailing Stop
After entering the Firsty Trade simply apply a trailing stop and let the trade continue until it hits the stop. Many forex traders prefer this method because it allows the trade to go with the trend until it starts to fade.

The biggest drawback is that if you do not apply a trailing stop that is wide enough, you can quickly get forced out of a trend on a minor pull back. On the other side if you have a very large trailing stop, you are effectively giving up a large portion of the trend and will be further away from exiting the trade at its peak.

Exit Strategy 2: Previous high/low
A second method for exiting your forex trades is to exit at the previous high or low of a price. This often occurs near a support or resistance zone and often forex traders exit a trade because of the uncertainty near this area. You can see this on the next diagram.

Exit Strategy 3: Two Profit Targets
The last method uses two different targets for your trade. The first target you set at a specific level and close out half your position. The other half you leave to continue with the trend and attach a trailing stop to the remaining position. By doing this you allow yourself to take a quick profit, while at the same time keeping a portion of your trade open and potentially capturing the remainder of a trend.

Below is an example of this exit strategy:

Disclaimer: Past performance is not indicative of future results

Disclaimer: Past performance is not indicative of future results

After the first target is achieved you may decide to leave a trailing stop on the remaining position, or you may move the stoploss to breakeven on the remaining position and see how far it can go in your favour.

Disclaimer: Past performance is not indicative of future results

Support & Resistance Education   Support & Resistance Education
Forex trading involves significant risk of loss and is not suitable for all investors. While you can earn a cash bonus,
you can also lose money due to the inherent risk of trading. Read full disclosure.

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