ForexGen Demo Account

Demo trade.

The demo account was designed to help traders gain familiarity with the speed and movements of the market.

When you are demo trading, you should learn how to:

1) place market orders to enter a trade,

2) place stop-loss orders to protect your positions, and limit orders to take profits,

3) place OCO orders and If Done Orders to execute more advanced strategies. Read More......

ForexGen GBP/USD Trade

Let’s move on to the next trade.
The next few charts are of the GBP/USD.
As you can see on the 4 – hour chart below, the 89’s and 144’s are in buy mode and have been for some time.
The next chart of the 30 – minute shows what happened next.

I initially selected the low just before the TI change as my point A on the 30 – minute chart, but that point kept missing the entry of the 38.2% retracement.

Also because the market had retraced slightly and moved back up it seemed sensible to try a new Point A which was 1.7088. This eventually gave me a Point B of 1.7275.
Once I had these two points I knew my entry level was going to be the 38.2% retracement level of 1.7204.