Weekly Trading Tip - A Simple Rule for Proper Money Management

FOREXSTREET.NET WEEKLY NEWSLETTER
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Hello and have a good trading week! I am short GU at 1.6804, SL at 1.6854, target at 1.6732-1.6719. I have took this short because I consider GBPUSD will make a retracement. I base this view on the fact that in weekly and daily time frame the price of this pair is well above the 200 SMA. 200 SMA is a benchmark moving average. If my SL will be hit, so be it. One of our members have text me a message telling me that all serious analysts are bullish on GU. I am bullish too but I see an opportunity going short. If GBPUSD will re-test the last high at 1.6841 I will add another small short position with the same SL and target. I have said yesterday that regarding the price structure and price patterns USDCHF will make another lower leg which implies EURUSD will make another higher leg. EURUSD is above 1.38 which is perceived as short term support now and I do expect EU to make it above 1.39, this time, before will go lower. You can initiate a long position with SL below 1.3785 with a target at 1.39 or you can wait for a clearer picture.

Weekly Trading Tip. I will try to give to you a trading tip every week. This week is about money management and more precisely about sizing of orders. I have a simple rule, for every 100 USD/EUR/GBP in your account you can trade 0.01 lot (this is 1 microlot). If you have 1000 USD in your account your maximum size of all your open trades at one moment will be 0.1 lot (1 minilot). For 10K USD in your account you can trade with maximum 1 lot (100.000 units of base currency).

From Forexstreet.net

Gary
FX Light. Watch Kiwi Pairs (this is my vavourite article this week)

http://www.forexstreet.net/profiles/blogs/fx-light-watch-kiwi-pairs...

Haitham653
EURUSD Weekly Forecast Apr 21 2014

http://www.forexstreet.net/profiles/blogs/eurusd-weekly-forecast-ap...
GBPUSD Weekly Forecast Apr 21 2014
http://www.forexstreet.net/profiles/blogs/gbpusd-weekly-forecast-ap...

Carol Harmer
Cable Looking Under Pressure Whilst Below 1.6845

http://www.forexstreet.net/profiles/blogs/cable-looking-under-press...

50Pips
Forex & Futures Outlook

http://www.forexstreet.net/profiles/blogs/forex-futures-outlook-15

Justin Bennett
Price Action Setups – AUDNZD and NZDJPY

http://www.forexstreet.net/profiles/blogs/price-action-setups-audnz...
Price Action Setups – AUDUSD, AUDNZD and NZDJPY
http://www.forexstreet.net/profiles/blogs/price-action-setups-audus...

Yohay Elam
GBP/USD Outlook April 21-25

http://www.forexstreet.net/profiles/blogs/gbp-usd-outlook-april-21-25
EUR/USD Forecast Apr. 21-25
http://www.forexstreet.net/profiles/blogs/eur-usd-forecast-apr-21-25

Scott barkley
Target Trading in the Forex upcoming week of April 20, 2014

http://www.forexstreet.net/profiles/blogs/target-trading-in-the-for...

From FXStreet.com

Anton Kolganov/ForexMillion
GBP/USD, Weekly Forecast, 21 - 25 April

http://www.fxstreet.com/analysis/4h-graphs-weekly-gbpusd-forecast/2...

Marshall Gittler/IronFx
The Big Picture

http://www.fxstreet.com/analysis/fundamental-daily-market-analysis/...

Valeria Bednarik/FXStreet
Market spotlights for next week

http://www.fxstreet.com/analysis/be-ready/2014/04/18/

Ipek Ozkardeskaya/Swissquote bank
Aussie gains on CPI expectations above RBA's target band

http://www.fxstreet.com/analysis/daily-forex-news/2014/04/22/

Luc Luyet/Swissquote bank
USDCHF: Bullish trend unfazed

http://www.fxstreet.com/analysis/usd-chf-forecast/2014/04/22/

Trading Ideas
http://www.fxstreet.com/analysis/trading-ideas/

Trading Positions
http://www.fxstreet.com/analysis/trading-positions/

Daologic

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Tags: FX Newsletter, Forex Money Management, Forex Newsletter

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