The one mistake you make that keeps you from being successful in Forex
More and more people consider becoming traders in the foreign exchange market. Their enthusiasm will soon be diminished due to information overload and early stage losses. Can this be avoided? Many beginners lack a clear guidance during their critical early stages. It is very easy and highly likely to simply get lost in the ocean of knowledge online, since it is hard to evaluate the quality and relevance of the information presented on the Internet, especially as a beginner. So what does a beginner need? Human interaction. It is crucial to find a successful trader who has been through the...
Read MoreTrading in progress for 2014
The first full week of 2014 has seen trading activity resume in full. Yesterday, we had the Bank of England and European Central Bank setting interest rate policies for their economies. The UK rates were held, with UK economic news generally continuing to support sterling. With the US economic growth powering ahead, it has to be reckoned that the Eurozone will eventually arrive at the party and benefit from this growth, in turn returning to growth. However, the Euro was under pressure yesterday as growth is lacklustre to say the least. Probably more accurate to say lacking instead. That was...
Read MoreTapering at last
The biggest talking point among traders for several months now has been “When will the FED start tapering?”. At least we know the answer now. Wednesday’s FED meeting announced a reduction in the amount of money being thrown at the market, reduced by $10bn a month from $85bn to $75bn. This really is a symbolic gesture. In the overall scheme of things, a reduction of $10bn a month being pumped into the US economy is neither here or there. The economic output of the US economy is well over $15,000bn and growing strongly. The other aspect of the FED announcement was not to...
Read MoreTwo weeks into January
It’s pretty snowy and frosty in my part of the world. That said, we are two weeks into January and there have been some exceptionally profitable trading days so far this year, January 2nd being the first of them. It was almost so predictable, the USA did not fall off the fiscal cliff. No real surprise at all. The element of surprise was contained to the extent that the US politicians have been taking careful note, maybe even having private coaching from their European counterparts. Collectively, the US politicians managed to kick the can down the road. It worked in Europe in 2012, so...
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