Friday, September 27, 2013

Aussie heads south again, as predicted

As discussed earlier this week, the Australian dollar had reached a point on the Technical Analysis chart where a short trade would be a high probability one. This is, just now, coming to pass.

There is never a cast iron guarantee that trades like this will be successful. The cornerstone of OmiFX’s approach to trading involves the idea of thinking in probabilities. This means that while any one trade is not important, they are all chosen so that, in the aggregate, the trader will be successful over time.

Added to that is the absolute necessity to lock some profit and to enhance the balance of profitability remaining as it grows. That is why the Stop Loss order, which is shown on the chart above, will be trailed down with the dropping price, should the trade continue to grow in profit. 

This will  happen automatically, under the control of the OmiFX Silver Trigger algorithmic routine.

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