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US500 4 HOUR CHART — Primed to react
Looking at this chart the rising red AT lines had it set up for a positive reaction to headline news.
This chart shows 5081 as a key resistance (other CFD charts may show a different level but a similar chart)
On the downside, expect support as long as it can maintain above 5000.with key support levels below it.
Thank JP. Side note on pairs, UsdJpy and UsdChf overall upward bias has not been significantly compromised with today’s selling in my view although it got my attention. Expecting further selling on bids above the figures. Us treasury purchases were strong on the data enough to possibly change the picture to risk on, you could see it pre-data. A lot of people are watching the 2yr note auction in a little over an hour from now. Expected to be strong.
April 23, 2024 at 9:07 am
wfakhoury Amman
GOLD
2328.00 is the consolidation level.
2281.00 has been confirmed and will be reached if it stays below 2300.
Use level 2300 for the movement..above it will consolidate to 2328 below it will decline to 2281
___________________________________
2328.00 Reached from 2300.
100% Guaranteed
EURUSD 1 HOUR CHART – DATA/NEWS DRIVEN MARKET
I am posting this chart to illustrate how hyper-sensitive the market is to any data that might change interest rate cut expectations.
The spike up on this chart came after the flash Ez PMI earlier.
This is why you need to be in touch with what news is coming out and the consensus forecasts.
Next up is the US S&P Global Services PMI Flash
In this highly sensitive data-driven world this can have an inpact although the iSM PMI is considered more important.
I WAS JUST ASKED HOW TO IDENTIFY THE PATH OF LEAST RESISTANCE. IT IS ALL EXPLAINED IN THIS BLOG ARTICLE
Jay Meisler’s Common Sense Trading: How You Can Identify the Path of Least Resistance?
Thanks to Newsquawk.com for broadcasting the comments from BOE’s Pill that sent GBP higher.
As you can see it was worth sharing it on the forum.
EURJPY 4 HOUR CHART – PATH OF LEAST RESISTANCE
If you want to be short JPY but are worried about intervention (i.e. USDJPY 155), one way to do so is via the crosses, such as buying EURJPY.
Why?
The answer is simple. There is less likely to see intervention in a cross than in USDJPY and why I call it the path of least resistance. .
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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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