Chapter 10, Part IV. Sometimes Mr. Fibonacci could fail...really. Page 4

Pipruit: Cool. You’re right Commander. And what will happen if market disrespects levels?​

Commander in Pips: Well, in this case more probably you will take a loss on your stop order, but this will tell you, that market is stronger in this direction that it was seemed before – and will force you to wait for sometime or even avoid from trade in this direction.

Here is another example, by the way, why we’ve said that stop loss order is must. Just look at the last chart and imagine what could happened if you’ve entered short from 0.382 without stop loss order. Keep this always in mind…

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Pipruit: Well, I think that I couldn’t sleep then…​

P.S. This lesson was written by Sive Morten, who has been working for a large European Bank since April of 2000, and is currently a supervisor of the bank's risk assessment department. Sive's knowledge of forex market and banking industry is vast and quite complete. If you have any specific questions about forex, banking industry, or any other financial instruments, please post them on the next page and Sive should answer soon.


Note: FPA ranks are earned in the battles against scam, not in the classroom.