By Rob Colville on October 10, 2015 in
If you’re someone who has ever wondered how to trade USDSGD, then you are in good company! It’s not as difficult as you may think In the tutorial below, give you a step-by-step lesson into how we traded a recent trend-based buy set-up so that you can do the same next time.
Many of our new members are often pleasantly surprised that profitable trading can be applied with ease and simplicity. Through analysing the story each and every the chart is telling us, we are able to find profitable opportunities from as little as minutes a day. Thanks to this approach, we are able to analyse and trade every asset class in the same manner. There’s no reason why you cannot do the same!
How to trade USDSGD: This is an example of how we view analyse and trade any asset class, regardless of whether it’s a currency pair, stock or commodity. That’s the beauty of trading price action in context with the fundamentals that govern the major market movers (ie: trading with the trend).
Our trend-based SGDUSD “buy the dip” trade set-up was identified after the New York close on the 18th September, 2015. In the evening (10pm London-time) orders were then placed with the so that we could be sure to have our order filled automatically the next trading day (if the market came to our entry price).
The trade set-up originally only took us a few minutes to spot, manage, and lasted for 7 trading days before hitting our “take profit 1” level which coincided at the previous swing high. This is where we exited for a 255 pip profit. Not bad for a few minutes “work”! That’s Lazy Trading…