Australia Keeps Rates on Hold, Says Loose Monetary Policy ”Appropriate” (Euro Open)
August 31, 2009
The Australian Dollar fell as the Reserve Bank of Australia kept interest rates on hold at 3% and said that accommodative monetary policy remains “appropriate”,…
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Australia Keeps Rates on Hold, Says Loose Monetary Policy ”Appropriate” (Euro Open)
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The Australian Dollar fell as the Reserve Bank of Australia kept interest rates on hold at 3% and said that accommodative monetary policy remains “appropriate”,…
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Australia Keeps Rates on Hold, Says Loose Monetary Policy ”Appropriate” (Euro Open)
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US Dollar Consolidation Continues as US Data Signals Strong ISM Manufacturing on Tuesday
August 31, 2009
• Canadian Dollar Weakest of the Majors as Q2 GDP Drops 3.4% • Australian Dollar May Show a Limited Reaction to RBA Rate Decision Overnight • Euro, British…
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US Dollar Consolidation Continues as US Data Signals Strong ISM Manufacturing on Tuesday
From Currency Trading News by DailyFX:
• Canadian Dollar Weakest of the Majors as Q2 GDP Drops 3.4% • Australian Dollar May Show a Limited Reaction to RBA Rate Decision Overnight • Euro, British…
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US Dollar Consolidation Continues as US Data Signals Strong ISM Manufacturing on Tuesday
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EUR/USD: Trading the U.S. ISM Manufacturing Report
August 31, 2009
Manufacturing activity in the U.S. is expected to expand in August, with economists forecasting the ISM index to increase to 50.5 from 48.9 in July, and…
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EUR/USD: Trading the U.S. ISM Manufacturing Report
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Manufacturing activity in the U.S. is expected to expand in August, with economists forecasting the ISM index to increase to 50.5 from 48.9 in July, and…
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EUR/USD: Trading the U.S. ISM Manufacturing Report
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Euro Short Term Resistance at 1.4230/50
August 31, 2009
A tight range persists in the EURUSD but the USDCAD is nearing its range high yet again and the NZDUSD is testing trendline support.
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Euro Short Term Resistance at 1.4230/50
This is from Currency Trading News by DailyFX:
A tight range persists in the EURUSD but the USDCAD is nearing its range high yet again and the NZDUSD is testing trendline support.
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Euro Short Term Resistance at 1.4230/50
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Euro Finds Intraday Support Head of 20-Day SMA, British Pound Looking For Bottom
August 31, 2009
The euro tipped lower for the second day but remained supported by the 20-Day moving average, and the EUR/USD may continue to trend sideways over the following…
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Euro Finds Intraday Support Head of 20-Day SMA, British Pound Looking For Bottom
From Currency Trading News by DailyFX:
The euro tipped lower for the second day but remained supported by the 20-Day moving average, and the EUR/USD may continue to trend sideways over the following…
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Euro Finds Intraday Support Head of 20-Day SMA, British Pound Looking For Bottom
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Euro Stalling Out Shy of Recent 2009 High (Daily Classical)
August 31, 2009
• Euro stalls ahead of 2009 high; rolling back over • Dollar/Yen remains under pressure; eyes 92.00 • Cable setbacks seen extending back to 1.6000 • Dollar/Swiss…
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Euro Stalling Out Shy of Recent 2009 High (Daily Classical)
Here’s an interesting a:1:{i:0;s:8:”TkRZMg==”;} post from Currency Trading News by DailyFX:
• Euro stalls ahead of 2009 high; rolling back over • Dollar/Yen remains under pressure; eyes 92.00 • Cable setbacks seen extending back to 1.6000 • Dollar/Swiss…
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Euro Stalling Out Shy of Recent 2009 High (Daily Classical)
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Japanese Yen Surges as Stocks Drop on Election Results, China Bank Earnings (Euro Open)
August 30, 2009
The Japanese Yen surged sharply higher to start the trading week as stocks fell after an election brought the Democratic Party of Japan into power for…
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Japanese Yen Surges as Stocks Drop on Election Results, China Bank Earnings (Euro Open)
Here’s an interesting a:1:{i:0;s:8:”TkRZMg==”;} post from Currency Trading News by DailyFX:
The Japanese Yen surged sharply higher to start the trading week as stocks fell after an election brought the Democratic Party of Japan into power for…
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Japanese Yen Surges as Stocks Drop on Election Results, China Bank Earnings (Euro Open)
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Euro Zone Consumer Prices to Shrink Again, Boosting Deflation Fears
August 30, 2009
A preliminary estimate of the Euro Zone Consumer Price Index is expected to show that inflation fell at an annual pace of -0.3% in August, a slight improvement…
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Euro Zone Consumer Prices to Shrink Again, Boosting Deflation Fears
From Currency Trading News by DailyFX:
A preliminary estimate of the Euro Zone Consumer Price Index is expected to show that inflation fell at an annual pace of -0.3% in August, a slight improvement…
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Euro Zone Consumer Prices to Shrink Again, Boosting Deflation Fears
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Swiss Franc Will Follow Risk Trends to Breakout or Reversal
August 28, 2009
The Swiss franc has seen bullish progression against most of its pairings this week. However, the few crosses that did not follow the beaten path highlight…
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Swiss Franc Will Follow Risk Trends to Breakout or Reversal
Here’s an interesting a:1:{i:0;s:8:”TkRJeA==”;} post from Currency Trading News by DailyFX:
The Swiss franc has seen bullish progression against most of its pairings this week. However, the few crosses that did not follow the beaten path highlight…
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Swiss Franc Will Follow Risk Trends to Breakout or Reversal
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How To Acquire Wealth in Currency Trading
August 28, 2009
Is it possible to acquire great wealth in online forex trading? Do you need to be a great genius to achieve the spectacular results boasted by some traders past and present? What kind of attitude is necessary for ensuring that you don’t get caught in market panics and euphoria, and suffer severe losses as a result?
These questions busy the minds of many beginning traders who come to forex believing that it is possible to achieve financial independence in trading without losing one’s emotional health and physical well-being while doing so. In spite of the bad press that forex trading has had over the years, it is indeed possible to achieve significant profits in currency trading, provided that you apply, and not just know, some simple rules. Here is a brief selection of these important guidelines that most successful traders follow.
Moderate profits, minimal losses
You don’t need great profits in forex trading. But you do need consistency. Volatile returns comprising of exceptional gains and severe losses over time may seem like a reasonable way of getting rich to some, but the emotional tensions, and the lack of future visibility make planning and execution a lot harder than they would be if you had attained consistency in trade results.
Add to this the possibility that your trade sizes change over time, and planning for the future becomes an exceptionally difficult task.
Conservative expectations
A good way of being successful in forex trading is not expecting it. Even though it is possible to scale any mountain, it is better to concern ourselves with the next step, rather than with how much effort would be necessary to reach the top. Planning for the long time, and formulating strategies for unexpected outcomes is of course sensible and advisable, but doing so with the expectation that you’ll get rich may lead you to irrational decisions, rashness in risk taking. Instead, by being conservative, and consistent you will have a real chance of acquiring great riches in forex.
Persistence
Don’t risk too much, but don’t give up too fast because of small, immaterial losses. Persistence and patience are crucial to gaining wealth in trading. While some already possess the necessary mental and emotional requirements, and others will have to work to acquire them, there’s always a learning process. Being persistent in this process will ensure that you have the survivability and the resilience to help you outlast the early disappointments.
Adaptability and Improvement
Times change, and we change with them. At least we ought to. This rule is no less valid in forex. Be disciplined and consistent in the application of your strategies, but adapt and improve them to suit market developments.
It is your responsibility to improve yourself. Forex trading brokers only give you the tools, but it is your task to learn how you can use them most efficiently. Make sure that you devote enough energy to developing your intellectual skills, and bettering your emotional control. And after that, what remains is but details.
