One of the most important monthly economic data points in a trader’s diary is the release of U.S. Non-Farm Payroll Report. As the forex market, and most other markets, move based on what the biggest economy in the world is doing (the United States) it is an important economic release for all traders as to profit from the markets you need them to move and they certainly do with NFP. Unemployment figures in the world’s most powerful economy have a particularly profound effect on the forex market and can provide either highly...
Until the most recent meeting of British Prime Minister Theresa May’s inner cabinet which took place yesterday, the dynamics were split right down the middle. May had five voices for a soft Brexit and five voices for a hard Brexit which gave the PM the deciding vote. May initially voted to remain in the EU and while she has vowed to respect the vote of the British public, she has been leaning towards a softer Brexit. Four days ago Home Secretary Amber Rudd resigned and was replaced by Sajid Javid who himself campaigned for the UK to remain in...
There are many stories about how hard forex trading is, especially if you want to become a Professional Forex Trader. The stories are not meant to discourage new traders, but should be viewed as a lesson of what forex trading is all about. It is not something you can approach half-hearted, but requires full dedication as any other top profession does. While it is important to understand the challenges, it is also important to know that those who accept the uphill battle, will come out on top of the mountain. Today we have an interview with...
Summer is approaching and as most traders know this usually comes with a severe slowdown in trading activity also known as the ‘summer doldrums’. The reason being that most active players in the financial sector are operating with a skeleton crew as the majority of staff are around the globe enjoying summer. This doesn’t mean that trading will become boring or that there won’t be any opportunities. On the contrary, each development will have a magnified impact on price action due to the lack of volume. This often adds to volatility which in...
Successful forex trading is not down to trading education and creation of a successful trading strategy based on fundamental or technical analysis, instead, it is about managing the emotions which are showing while enforcing that strategy. It is very known fact that there are so many good trading strategies in the world, but not that many successful traders. This is based on the fact that without good emotions management, we can make even the best trading strategy to perform very poorly. Emotions are part of the human nature and they may...
