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XAUUSD 1-HOUR CHART
Similar to FX pairs, XAUUSD is trying to correct (note rising red lines)
1984 = Key support
2031 = Key resistance
To keep the upside at risk, XAUUSD needs to hold 1995-2000, stronger if the trendline holds
2008 = minor resistance
Note the trendline will be at 2000 at Friday’s open
The best way is to shop with local stores in the vicinity, let them know you as a regular…
The other way is simply to pay cash for everything but build up a truthful profile for yourself with the stores, that is just in case so the cops can catch the crooks and ensure your personal safety.
or
Pay by card for regular purchases below a certain amount using a card/account which you can close if required and pay cash for large purchases above a certain amount.
Here is what people do, and why they get scammed/defrauded. They pay cash for small purchases and use their card/bank account(where there is a lot of cash) for large purchases.
How in the past did scammers get your details? Dishonest merchants through whom they did their business…
So if you pay cash then the merchants have to tell the crooks the serial number of the notes you paid and the amount which you paid which means the scammers will ask the merchants to share the proceeds but merchants won’t do that, instead they’ll turn on em’ and expose themselves to legal action for being involved with scammers too… and if it goes the other way then the scammers will rob the merchants and get accosted by cops… Scammers can be remote in other locations behind the screens or also can be the types of merchants who do run a bonafide business but also are on the lookout and in the business of robbing other merchants meaning masquerading and watching who collects how much money so the robber merchant can hire robbers to carry out armed robberies at their behest whether their victim is locally based or based in another country too then the robber merchants share in the proceeds with the robbers. However, in many cases (eventually) the robbers don’t share their loot and make threats on the merchants in which case the merchant reports them to his henchmen or the cops which leads to the gunmen being taken out or accosted by even more heavily armed policemen…
Cash looks like it supports crime but the effect of paying cash is that the merchants don’t want anyone to commit an armed robbery on them so the precautions which they take forces crime levels to remain very low… Crime levels were very low in the USA for decades, why? … Cash is King… but now we got creit cards and computers on which we can use em’, well so can the scammers dot dot dot…
USDJPY
To be able to continue to the new highs , Yen has to close above 150.200 tonight ( any close above 150.000 awakens the attention )
Otherwise, the risk is to the downside, with the first support at 149.550, followed by 148.500
It might all come to the USA Data tomorrow– Economic Calendar
From our friends @GTWO3 : March Euro futures are bullish under 107.50; the decline from 12/28 high has been long liquidation rather than new selling.
I am on record that the bond market is THE king
Looking at the prancing since last Fr’s reaction to CPI (notably most CB’s now singing from the same ‘dependant on incoming data’ page in the hymn book) – 4.15 to 4.3320 and current approx 4.20 off the peak suggests players would love to place directional bet BUT … are unsure currently.
Imo IF I had to go out on the limb I d say the next direction (for yield) will be prudent tentative down.
fwiw re today’s yakkers: both are voters (if it means anything)
9:30 ny
DLRx 104.19 (somewhat down a bit) / 10-yr 4.212 / euro 1.0780
observation: dlryen and us yield appear correlated
Looks like players are not done selling the dlr just yet
—-
13:15 – fed’s waller yaks – on dlr’s int’l role (hello janet, hello putin)
19:00 – bostics yaks on outlook and policy (yeah !, lol)
interest policy at fault and to blame ?
–
* For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.
* Germany on the other hand, saw its nominal GDP grow 6.3% to reach 4.12 trillion euros, or $4.46 trillion based on last year’s average exchange rate.
Japan is no longer the world’s third-largest economy as it slips into recession
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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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