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The following is a review of the broker Eightcap, not from a reviewer but from a veteran trader with decades of experience.
Food for thought.
1. Why would you pay attention to a “bias indicator” based on the total of retail customers of a brokers client base knowing the vast majority of retail traders are wrong and lose their money? Nice gimmick.
2. A well known and highly frequented FX “advisor” frequently quoted in news feeds, primarily to retail audience noted very early this morning before the action really hit that “UsdChf is trading flat, best to stay away.” Why? Would it not be better to learn how and why to be active in it successfully? The pair dropped over 100 points in a short period of time. They don’t know what they are doing beyond average in my opinion. They do have solid informational value if you are novice.
3. Why would you not listen to a highly skilled and very kind former bank Trader like Jay Meisler instead? Or a former in demand CTA such as myself or the other actual and very skilled former bank traders who frequently post here in GVI?
I sold UsdJpy right before it collapsed last night in late Asia. I have been long AudUsd since yesterday. I have been short UsdChf since yesterday against a lot of opinions to be long US Dollar. I have been long GbpUsd since yesterday. Picking away at EurJpy on both sides the entire way. You won’t find that with Youtube or TikTok gurus or the aforementioned not as stellar as advertised advisory sources which are popular.
You will find it here in GVI.
Disclaimer – I am not paid by GVI or under contract with GVI in any fashion. I am simply commenting in the hope of being helpful and enjoy the input from others here.
If you have followed my posts you may have noticed I have pointed out what I call price magnets at 100.90 and 100.50 DX which I have been keying trades off of going back a ways. There is also a cycle area at 100.60/70 which I see as quite possibly hit very soon where the market will take a breath and re-assess. It is an intermediate cycle area, which includes two other value areas which I will not mention due to not being important today. The dominant cycle areas are much further out in price, with the lowest area of that cycle being right at 100. This is not Macd or linear regression, or Gann, or a number of other methods. It does include pattern recognition because, frankly I think it is a must to at least have a moderate understanding of market patterns.
XAUUSD 4 HOUR CHART – PAUSE?
XAUUSD so far not setting new high, which would break a string of 5 record days in a row.
The 2 blue AAT line, otherwise know as a directional indicator, how a potential change in direction.
‘
HOWEVER, for this to be anything more than a pause, 2650-54 would need to be taken out.
AT stand for The Amazing Trader
Purely because I want to help. I sold UsdJpy before the results in late Asia. I am sure you can see the result.
A brief expansion of prior post regarding UsdJpy and Japan’s new leader. The reason I know about why the pair was obliterated is because I am very much like a CTA. Because I was one. What separates a lot of people from the pack is dedication. I know about the change in leadership in Japan because I was active and absorbing mass amounts of vital information during the Asian session. Which I do every night, even on Saturdays and Sundays. I do not participate based on gimmicks offered by brokers or youtube stars, or TikTok stars.
Final note on the subject and then back to markets – If I were you I would listen to Jay with GVI. He was a real bank trader, and a very good one. Not the kind who was a bank trader but not talented but tries to sell themselves on youtube. An actual, solid, talented bank trader. If you do not think he is good you are fooling yourself.
Very simply, dedication and a professional approach. Not pajama trading approach.
The primary reason UsdJpy and other Yen related pairs jumped off of a cliff is because the new leader of Japan chosen just last night, Shigeru Ishiba, is strongly in favor of a stronger Yen. He is also in favor of a stronger military, which if you have any common sense is a good idea considering the highly dangerous global conditions at present and looking outward.
A look at the day ahead in U.S. and global markets from Mike Dolan
U.S. stocks surf new records as the last full week of the quarter comes to a close, with China’s furious monetary easing accelerating the rebound there and Wall Street eyeing the release of the Fed’s favored inflation gauge.
After a barrage of interest rate cuts, real estate props and stock market supports this week, China’s central bank cut its one-week reverse repo rate by another 20 basis points on Friday – trying to get across what it likely sees as an alarming economic slowdown that may see it miss 2024 targets.
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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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