ForexGen | USD/JPY

The USD/JPY trade is a good example of a nice simple trade. I wasn’t initially all that excited about the trade as the 89’s had moved into the 144’s area and was causing congestion on the 4 – hour chart.

But as the TI broke I started paying attention to the 30 – minute chart.

When the 30 – minute started breaking down it had all the looks of a solid break.

This will come with experience.You will develop a sense for when a break is real or false.

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Trade, Compete, and Win with ForexGen

ForexGen has the pleasure to announce the launching of the Demo Account contest on the first of every month.

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit .

2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit .

3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit. The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.

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ForexGen Trading Rules " Long Trades "

Rule 1
The 89’s and the 144’s on the 4 – hour chart and on the 30 – minute
chart must both be in buy mode. By buy mode I mean that at some point the 89’s have crossed over the 144’s.
Rule 2
The TI (trend indicator) must be in buy mode. The TI must just be changing from down to up or already be in buy mode.
Rule 3
Once these conditions have been met then we use the 30 – minute
chart for our entry, exit and target. The 5 - minute chart is used to onitor the position. It can also be used to enter the market once you gain more experience.
Rule 4
We only enter on a 38.2% retracement. You only place your stop loss under the 61.8% retracement and you only use the targets provided by he RPC.
Rule 5
You only select trades where the potential reward is at least twice the otential loss.

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