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A look at the day ahead in U.S. and global markets from Mike Dolan
Ailing Tesla shares (TSLA.O), opens new tab caught a rare 10% break overnight despite the electric auto giant’s quarterly revenue miss, underscoring a better market mood as Meta (META.O), opens new tab steps up to the earnings dock later and U.S. business activity cools in April.
Morning Bid: Tesla catches break, Meta next; TikTok countdown
EURUSD Daily
Yesterday we have seen a strong move Up , driven by the data .
Resistance at 1.06700 was taken out ( now acts as a support ) , and we have closed the day Above the sharp downtrend Resistance line.
There are no important data today , so we’ll see if this move can be sustained .
If it does, we’ll have two consecutive Closed bars above the downtrend resistance line, and that would signal a change of trend.
However, if close will be bellow 1.06500 , it would be a perfect Sell signal and run at 1.05500 would be inevitable.
Supports at 1.06800, 1.06700 , 1.06500 & 1.06250
Resistances at 1.07250 , 1.07700 & 1.08250 Continue reading...
NQ outperforms, benefiting from gains in TSLA, USD firmer & AUD bid post-CPI, Bonds at lows
Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.
4 Things You Need to Know
European bourses are mostly firmer; NQ outperforms, propped up by gains in Tech names – TSLA +10.5% pre-market, TXN +7.3%
Dollar is firmer, AUD benefits from the risk tone and on hotter Aussie CPI, USD/JPY printed a high of 154.96
USTs are pressured, giving back some of the PMI-induced gains; Bunds follow suit and eye YTD lows
Crude and XAU are subdued by Dollar strength, base metals remain resilient
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USDJPY MONTHLY CHART
Let’s try something different by looking at a monthly chart with USDJPY extending its high to within 3 pips of 155.
The pattern that stands out is higher lows/higher highs each month this year. For any intervention to have a hope of stemming the tide, this pattern would need to be broken.
It is hard to remember a stalemate or should I say a pressure cooker like this,,, which will be put to the test on Friday (if not before) when the BoJ meets and Japanese and US inflation data come out… See full previews and detailed analysis
April 24, 2024 at 8:09 am
wfakhoury Amman
GOLD
Time to sell
2303 has been confirmed and will be reached. then at 2281.
Any rise above 2328 will return to it.
Also, 2323 is a consolidation level.
____________________________
2323 still active as a consolidation level and will be reached from the 2317 area.
AUDJPY 4 HOUR CHART – TRYING FOR A BREAKOUT
AUDUSD OUTPERFORMING AFTER CPI DATA WHILE USDJPY REMAINS POISED JUST BELOW 155 DESPITE MARKET ON INTERVENTION WATCH
AS FOR THIS CROSS, THE KEY LEVEL IS 100.80, SO FAR ONLY BRIEFLY TRADING ABOVE AND NEEDING TO BECOME SUPPORT TO BUILD MOMENTUM INTO UNCHARTERED WATERS (I.E. NO CLEAR RESISTANCE OTHER THAN THE MOST RECENT HIGH = 101.01 SET EARLIER).
SYDNEY, April 24 (Reuters) – Australian consumer price inflation slowed less than expected in the first quarter as service cost pressures stayed stubbornly high, a disappointing result for policymakers that led markets to abandon hopes for any rate cuts this year.
Australia Q1 inflation slowdown disappoints, rate cut bets gone
Economic advisers close to former President Donald Trump are actively debating ways to devalue the U.S. dollar if he’s elected to a second term — a dramatic move that could boost U.S. exports but also reignite inflation and threaten the dollar’s position as the world’s dominant currency.
GVI 11:07 / sounds like a good time for a real-life experiment using your 5:59 post’s tactic:
go flat into the release, evaluate the reaction and maybe
– go with it or
— fade it
***
IF I had interest in trading the release I might activate my OCO robot and gnaw at my fingers I survive any dealer widening of spreads, holding off on a fill or price ying-yanging forward n back and maybe try to take out my sl, sometime in the red.
AUDUSD 4 HOUR CHART – CPI LOOMS
AUDUSD staging a nice rally that would need to get through .6493 (tested) and .6500 to put .6543-53 on the radar.
A test comes in a few hours when AUST CPI comes out… see our Economic Calendar
Out a short while ago
JPMorgan raised its EuroZone GDP growth forecast after the PMI survey surprised to the uposide in april. Q2 GDP forecast now 1% (prev 0.75$) and H2 ;24 1%
Source Newsquawk.com
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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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