Finger Trap Strategy for Forex Traders

James Stanley of DailyFX explains the Finger Trap strategy. A highly successful trend following approach to trading currencies. http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/03/26/Short_Term_Momentum_Scalping_in_Forex.html The Forex market moves fast… very fast. This strategy can help traders focus on, and enter trades in the strongest short-term trends that may be available. Many traders coming to the Forex market look to day-trade; and by day-trade, most of these traders are thinking of holding trades for a few minutes to a few hours – at most. The allure of such a strategy is understandable. By not holding positions overnight, the trader can feel an element of control that they may not feel otherwise. By always having a finger on the trigger, the trader can decide to add risk to the trade (to take advantage of the ‘good’ movements), or take risk off (when the market isn't going your way). The ‘Finger-trap’ trading strategy was developed to attempt to take advantage of these situations, by focusing on the most important elements of what makes a strong trend a strong trend – and those elements are generally strong, one-sided movement that can push our trades in our favor. I call this strategy Finger-trap, because I’m of the opinion that short-term trading in the currency markets are very much like the timeless children’s puzzle, the Chinese Finger Trap. http://www.dailyfx.com/forex-educators/bio/James_Stanley https://twitter.com/JStanleyFX James Stanley is an Active Trader, and Trading Instructor at DailyFX. James began trading equities and options in 1999 during one of the greatest bull markets of all-time. As the tech boom became the tech bust, James hybridized his short-term trading approach to include Swing-Trading, and Algorithmic system design. James has further developed and refined his approach while working for some of the largest banks and brokerage houses in the United States. James is graduate of Hankamer School of Business at Baylor University. If you do not have the skills or the desire to trade on your own, Please visit our webpage for more information about our services! White Cloud Mountain is a Managed Forex Trading Fund for Traders and Private Investors. Please visit our webpage for more information about our services! http://www.WhiteCloudMountain.com .

Comments

1. Hi! Where are the entry points of the Finger Trap Strategy
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