end has changed as well, and now the broker can offer a market execution for pending orders. Maybe, but what if theres no market where your order is being placed? Basically, a forex strategy should involve when to enter the market, what to do while trade is going on, and when to exit a trade. Technical analysts will generally place their stop loss and take profit orders below levels of support when taking a long position, and above resistance levels when taking a short position. Now, the forex market is very huge, decentralized, volatile, easily accessible, and influenced by different factors.
Despite the common belief, a broker is not after the clients money, as it gains from the transactions a client makes. Nevertheless, many traders will cancel their orders to take profits in the interest of letting their profits run. When the SNB dropped the peg, there was no market to be found all the way to below.88, and the broker could not execute the stop loss orders. However, I am a scalper, and go for only 10 pips take profit, so I set my take profit.1270. Usually, this kind of trading is associated with a traders intention to pick a top in a bullish trend, or to fade a move caused by an economic event or release.
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