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There is no magic to trading. I believe in making calm rational decisions what, when and how to trade based on a decade of intense learning.
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Here is just another example of how powerful Commitments of Traders Report can be in the hands of a skillful trader.
This time the C.O.T analysis spotted a perfect top in AUDUSD – once again!
Aussie had been trending up since Jan 2016 from 0.7100 bottom to a top at 0.8150 in September this year. The uptrend consisted of few major swings up and down, but the price managed to trade higher at the end of each cycle.
Trading forex is full of misconceptions indeed.
Many novice’s come into trading forex through very smart marketing techniques. These techniques tend to produce fairy tales around very logical concepts.
They are designed to make trading Forex very attractive by promising the impossible. Among many, the income expectations in the retail FX market are seriously overdone.
When I first got into forex trading,
I had no clue How to trade forex!
And,
I had a thousand questions about trading that I simply could not get a straight answer for!
No matter where I went to find Information, nobody could give me simple starter advice on how to trade forex, for beginners that is!
There was just one talking head after another, trying to get me to fund an account on their platform!
Because interest rates are so closely tied to this issue, what also needs further consideration is the potential effects on the value of the USD occasioned by unwinding the balance sheet, and by extension commodity prices, in particular the price of gold.
People who succeed at day trading do three things very well:
They identify intra-day trading strategies that are tried, tested.
They are 100% disciplined in executing those strategies.
They stick to a strict money management regime.
Good market analysis combines the fundamental analysis and the technical analysis. This combination is essential to form a longer-term bias in the market. Good market analysis needs to consider other parts of financial market; stocks, commodities, futures. Good trader understands correlations between stocks, bonds, interest rates and knows how they impact currencies. Once the trader… Continue reading How to perform accurate market analysis
How many times you opened your trading platform just to find the price moved unexpectedly in the direction you have anticipated? You had been watching this price for a while, waiting for perfect opportunity to enter just to find the price taken off. The reason? Unexpected news just came out and moved the markets.… Continue reading Connect to information – Risk comes from unknown
[vc_row][vc_column][vc_column_text] ( COT ) Commitments of Traders report is the most powerful leading indicator After talking to many day traders I notice that most of them discount the Commitments of Traders report as a functional leading indicator. They are of the opinion that the data reported lags five days hence is invalid. But this is… Continue reading ( COT ) Commitments of Traders report – An Ultimate Guide for a Forex Trader
