The mental side
Posted on Thursday, May 20th, 2010 at 1:15 pm.
Whether you have been trading for some time or are new to the currency market, one thing that is crucial for your success is being able to control your emotions. Becoming a successful trader isn’t nearly as much about charts and indicators as you may think. I would say that about 2% of your success will come from the indicators and charts. The other 98% is within yourself. You need to learn to read yourself and judge the market dispassionately. It’s easy to be successful with a demo trading account, but it is another thing entirely when you are trading live. Due to the emotional attachment that we have to money, trading live is much more difficult. If you want to trade consistently, learn to manage yourself and the rest will fall into place.
New Day Movements
Posted on Wednesday, March 17th, 2010 at 5:54 pm.
As you may have noticed when the day candle closes, at midnight GMT, there tends to be quite a move. I’m not really sure why this is as the currency market is influenced by every other market in the world as well as the other currency pairs so there is not one answer to this question. However, I have noticed over the past little while consistently when the new day begins in GMT there tends to be a nice move for quite a few pips. If you are there and on top of things you could take a nice quick trade and make a little money for yourself.
EUR and the GBP help wanted
Posted on Wednesday, March 10th, 2010 at 7:34 am.
The pound has been the subject of attack before. For instance, in an incident still remembered as “Black Wednesday,” billionaire investor George Soros – Rogers’ former Quantum Fund partner – made a cool billion selling short a massive quantity of sterling in September 1992.
This could happen again. And while it might be welcomed by exporters and anyone traveling to the United Kingdom on spring break – how about a quick 20% discount on rooms and food? – it would be disastrous in other ways.
Watch this, as it is inherently destabilizing for world trade, commodities and stocks. The Bank of England (BOE) and its allies would have to step in at some point to prop up the pound. And if that currency coalition proved unable to stem the tide against speculators, the loss of credibility would be devastating.
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Non Farm EGG ROLL
Posted on Friday, March 5th, 2010 at 7:48 am.
The Non farm pay roll announcement came out and had a big effect in the currency market. As you can see the JPY markets really took off. When you learn that news can either be a spike in the market or temperal with the Non Farm pay roll today it was some big pushes to the markets. We project that the market will continue the upward movement with the GBPJPY for seversal days. Understand that when 1 YEN pair starts to move all of them run together. Look for more buy positions in the GBPJPY market it’s going up up up.
