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EURUSD 4h Intraday outlook
The base is formed for try outs to the Upper levels of the Daily Downtrend.
Targets to watch out for are 1.06700 & 1.07200 – all depends on time-space development.
Supports are at 1.06300 & 1.06050
By the pattern that is forming, it is unlikely to see downward follow through right now.
It is more of a possibility to watch Upticks for a day or two.
So base your small time frames trades accordingly .
With no serious data ( except for US Initial Jobless Claims tomorrow ), there is a calm till Friday.
Check out Economic Calendar
A look at the day ahead in U.S. and global markets from Mike Dolan
There’s no doubt there’s a doubt about any U.S. interest rate cuts this year.
After weeks of market trepidation about stalling U.S. disinflation amid still-brisk economic growth, Federal Reserve top brass are making clear that this year’s rate cut plans are on ice until further notice.
I have not checked Jared Malsin and Benoit Faucon affiliations / biases so fwiw
this is what they write in WSJ this morning:
–
Emboldened Iran Makes Dangerous Gamble on Open Confrontation
Iran and Israel stand on the brink of an escalatory cycle of violence after Tehran’s attack showed its shift away from accommodation with the West.
USDCAD ONE HOUR CHART — MAKE OR BREAK TIME?
With USDCAD’s 2023 high at 1.3899 looming above, it would seem we are approaching a make-or-break time for this major move higher.
What I mean is in this current run to the upside it would have to take out 1.3899 to put the move up into higher gear targeting 1.3975
Looking at this chart, expect support as long as it trades above 1.3774, stronger bid if 1,38 holds.
FLIPOFF to BIDEN ?
–
APRIL 17 UPDATED 51SEC AGO
After meeting Herzog, UK’s Cameron says it’s clear Israel will respond to Iran attack – timesofisrael
“It’s clear the Israelis are making a decision to act,” Cameron, who was speaking to reporters in Israel, says. “We hope they do so in a way that does as little to escalate this as possible.”
April 17 (Reuters) – A look at the day ahead in Asian markets.
Investors in Asia hoping for some relief from surging, opens new tab U.S. bond yields and a rampant dollar would have been deflated by remarks on Tuesday from Federal Reserve Chair Jerome Powell, and will likely go into Wednesday’s trading with their guard up.
Morning bid: Powell dashes easing hopes, markets dented again
oohhh well…
–
FEDERAL RESERVE
Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation – Jeff Cox
– Fed Chair Jerome Powell said the U.S. economy has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon.
– “The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” he said during a central banking forum.
plenty folks were commenting that “the last” mile to FED’s 2% inflation target would be like giving birth to a 12-pounder.
So the chief is the last guy to come to reflect on that distinct reality.
Bottom Line
– is that players have to game the FED’s game next.
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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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