Saturday, April 12, 2008

Forex and Spring Boards

For the last 4 months or so the Forex market has been making strong moves and becoming oversold or overbought real quick just like the US market. A one week move might just take a day or hours. Being on the right side of the trade this first time makes it that much more critical as a move against me is not unheard of and is usual but hitting my stop and then going in the original direction just draws down the account. So as of late I'm taking profits after a quick oversold/over bought move then going back in once the spring board is back to it's normal self with defined risk until the market finds some stability when a trend is more stable.

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