2014 is around the corner with less than 36 hours away and the PaxForex Technical Analysis Team is pleased to announce that starting on Monday, January 6th 2014 we will provide an analysis for gold and silver as trading opportunities arise. 2014 is set to be a very exciting time right here at PaxForex for all our traders and we will make some changes which are aimed and creating an even better service for all our clients. Don’t miss out on all our trading ideas and we welcome you to subscribe to out PaxForex Trading Recommendations so you have a chance to profit alongside with us.
Gold and silver will be analyzed on the Weekly Chart (W1) so it is aimed for traders who prefer a long time-horizon on their trades. Should there be good short-term opportunities we will also provide a trading recommendation on the 4 Hour Chart (H4).
You can trade gold and silver right from your PaxForex MetaTrader 4 platform and enjoy our tight spreads matched by our very deep liquidity so you can get your orders filled. Keep in mind that gold and silver are heavily influenced by economic developments and gold acts as a safe haven when fear increases and volatility spikes.
We are very excited by the addition of gold and silver to our services as more and more of our loyal traders have asked us if we could provide our point of view on those two precious metals. We hope you all had a very successful 2013 and that you were able to profit from our trading recommendations.
Here are some very important facts to keep in mind when you start trading alongside with us:
- We provide our trading recommendations based on what our analysts create and use technical analysis for that. We enter the trades we recommend at the price we specify for our traders which means you can get the same entry.
- You need to apply your own risk management as well as potentially modify your exit strategy. Please keep in mind that we operate a professional portfolio and therefore our exit strategy may not be suitable for you.
- We specify a stop loss area which you may want to use as a guideline. In general we have more than one entry position into a trade and therefore do not use the stop loss order given, but rather add to our existing positions in that area.
- You may also want to adjust your take profit target. While we offer our take profit target area you need to keep in mind that trading is very dynamic and situations may develop which will cause us to adjust our take profit target in certain cases.
- We do use a stop loss order, but in most cases to exit a trading position for a profit. For example if our take profit target is 400 pips away and we are currently looking at 130 pips in floating trading profits we will set our stop loss in order to secure at least 100 pips and shield our trade from unexpected developments. You are advised to do the same at your own discretion.
We hope you enjoy the last hours of 2013 and that we will see you back on Monday for a very profitable 2014!