Gathered from his years of experience, Campbell brings to this portal his expert advice in currency trading, useful tips and tricks of the trade that will prove valuable forex stop order new and seasoned traders alike. Campbell’s strategic skills and know-how will is designed to help trades reduce risks and capitalize on opportunities. Updated quotes, trading charts and free currency conversion tools will help traders master the world of online currency trading.
Forex trading 101 or the introduction to forex trading enable us to know how forex works and how to make money with currency trading on forex. Our free Forex Currency Converter gives you accurate and instant foreign currency conversions. Stay on top of the Forex market with our foreign currency converter. Use our free Forex Pivot Point Calculator to better understand Forex market trends and predict trends before they happen. Use our free Forex Margin Calculator to help you make better decisions with the Forex market. Watch our step-by-step Flash tutorial of the ICTS trading platform. To limit risk on a trade you need an exit plan.
When a trade goes against you, a stop loss order is part of your exit plan. A stop loss is an offsetting order which exits your trade if a certain price level is reached. Assume you buy the EURUSD forex pair at 1. With this expectation you place a stop loss at 1. 1005, because your forex strategy indicates that if the price falls to this level it could go even lower before it goes higher. The stop loss order caps your risk at 10 pips per lot tradedtheoretically.