About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

5 Comments

  1. Tim Barnby on

    Great post! I've never hedged, so that part of the FIFO rules doesn't bother me. It's much better to either take your loss if you are wrong, or to use what I call "The Sentinel" order. If you are trading with a major trend, and get stopped out of your position, you wait for price to move against you by .3ATR (D1 14 period) Then place the same order again. This gives price room to breathe against you and places your trade in right direction at a much better price. All you lose ios the spread. I'll pay the spread for a better entry price any day!

  2. Thanks for the compliments Tim. I've just submitted this post to Forex Factory.

    Yup, hedging is problematic.

    Your "Sentinel" order seems a very interesting and profitable method for "revenging" when you're bounced. I'm expecting a post on your blog about this issue…

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