EURUSD 4 HOUR CHART – FRIDAY THE 13TH
1.1091 nicked only so far but 1.11, midpoint of 1.10-1.12 is probably more important in dictating whether EURUSD makes a fresh run at the 1.1201 high.
On the upside, the key trendline (see chart) would need to be broken to expose 1.1155 as a target.
On the downside, keeps a bid as long as it trades above 1.1055.
Otherwise, it is Friday the 13th if you are superstitious.
XAUUSD – Gold
Supports : 2530.00 , 2500.00 & 2470.00
Resistances : 2590.00 , 2620.00 & 2730.00
If what we have seeing in last two months was a consolidation phase, this might be a start of the Rally.
Two levels come to mind in that case : 2750 & 2850
Mind you, market has no brains – I still remember Gold at 250 ( yes, didn’t miss a zero here – two hundred and fifty ), and at that time I had a problem calming down some big clients , forcing them to hold on their gold ( physical ) .
Now in this time of uncertainty , what better then Gold ?
Nasdaq 100 – NDX
Wall St mixed in choppy trade as PPI data keeps smaller rate cut in view
August producer prices slightly above estimates
Moderna tumbles after dour FY25 revenue forecast
Indexes: Dow down 0.13%, S&P 500 up 0.18%, Nasdaq up 0.43%
Wall Street’s main indexes were mixed in choppy trading on Thursday after higher-than-expected producer prices data kept a smaller 25-basis point rate cut by the Fed firmly on the table, while Moderna slumped following a downbeat revenue forecast.
S&P 500 – SPX
US Equity Indexes Rise as Market Prices in Gradual Monetary Policy Easing Following Hot Inflation Print
The S&P 500 index rose 0.7% to 5,590.2
The US Producer Price Index grew 0.2% month-over-month in August following a flat reading in July, the Bureau of Labor Statistics said Thursday, faster than the 0.1% gain expected in a survey compiled by Bloomberg. Excluding food and energy prices, core PPI climbed 0.3%, above the 0.2% gain expected and a 0.2% decline in the previous month.
On a year-over-year basis, PPI was up 1.7% in August versus a 2.1% growth in the previous month. However, the rate for PPI excluding only food and energy accelerated modestly to 2.4% from 2.3%, and the rate for PPI excluding food, energy, and trade services advanced to 3.3% from 3.2%.
Nvidia – NVDA
Nvidia’s stock extends gains: ‘The time to worry is clearly not now’
Nvidia Most Active Stock in S&P 500 and Nasdaq 100 So Far Today
Would be highest close since Aug. 28, 2024, when it closed at $125.61
Currently up five of the past six days
Currently up four consecutive days; up 16.76% over this period
Longest winning streak since Aug. 19, 2024, when it rose for six straight trading days
Best four-day stretch since the four days ending Aug. 15, 2024, when it rose 17.29%
Up 0.58% month-to-date
Up 142.44% year-to-date
Down 11.45% from its all-time closing high of $135.58 on June 18, 2024
Up 163.4% from 52 weeks ago (Sept. 14, 2023), when it closed at $45.58
EURUSD paused above 1.10 but remains below 1.1050-55
GBPUSD found support at 1.30 but is still below its 1.3087 breakdown level
USDJPY set a new low at 140.70 and then bounced… 142 is its current bias setter
Stocks staged a nice rebound led by tech… my focus is on US500 5500 as its pivotal level but 5600+ would be needed to suggest more legs to this rebound.
XAUUSD sets new record high,.. close vs old 2531 high is important
What stands out to me is EURUSD and GBPUSD finding support above key pivotal levels \
All of this as we wait for the next key event => the FOMC
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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