Exchange Rates Eur Usd Live Chart

Do you really want a Forex robot that automatically figures stop loss? In a word, no. Experience and study will give you the best placement of stop-loss orders: there are advanced strategies that will increase your profits – and it won’t cost you any college tuition to learn it. I can tell you that Forex traders who are afraid to lose set them too tight. And traders who are overconfident of their ability set them too loose. The March price of the EUR/USD did, in fact, hit $ 0.9000/euro and your automatic trading helper (TnT Forex Live) would have automatically bought a Forex lot for you at the MARKET PRICE that prevailed as soon as possible after the $ 0.9000/euro price level had been hit.

That is, when the price actually hit $ 0.9000/euro, your pre-existing order (“open order”) went live. Exchange Rates Eur Usd Live Chart

At that moment, your order to buy one EUR/USD pair went into the electronic auction, BUT THE ELECTRONIC EXCHANGE DIDN’T SUDDENLY STOP JUST BECAUSE YOUR ORDER WAS HIT. Business went on as usual, so the actual price at which your “order” was “filled” may not be exactly $ 0.9000/euro. It may be lower (which would give you more profit than a “fill” at exactly $ 0.9000/euro would have, and a lower fill would be just fine. Why! Because you not only fulfilled your objective “to get on board only if the market was going the way you wanted to go” but you also got in at a more profitable price.

By pre-selecting a price above the trend line ($ 0.9000/euro) the price would have to move the way you want it to (up) or your order would never be filled. That’s the only way to ever enter any market – only when the price actually moves the way you want it to. The 75-95% losers just jumped into any passing car in Forexico hoping it would take them where they wanted to go! But hoping is worse than flipping a coin. You cannot run a business on hope. And it certainly doesn’t take a Ph.D. in finance to employ a stop-loss – the most basic strategy to your plan.

Once the EUR/USD price triggered your $ 0.9000/euro open “limit” order, you became a passenger on the “Euro line express.” You intend to take a ride on the “Euro line express” as long as it moves in your direction; in this case, UP. If it should turn downward, when do you want OFF the “Euro line express?” Ideally, you place your stop-loss order far enough below (when buying a contract) your entry point so that it will never be reached when you’re right, but close enough below your entry point to stop your losses to as little as possible when you’re wrong. “Now that’s like carefully planning all the places to see on a vacation to an exact budget, not too cheap but not too expensive!” Exchange Rates Eur Usd Live Chart