“I try my best to look to the market itself for guidance. I believe that the market provides us with the clues we need to succeed and it is our job to be as objective as possible at deciphering that message.” -- Brian Shannon David Alan Tepper was born on September 11, 1957. He’s of Jewish ethnicity and an American. He went to Peabody High School in Pittsburgh's East Liberty neighborhood. He then attended the University of Pittsburgh, where he got his BA in Economics (with honors). While at the university, he worked at...
During the Asian trading session this morning Australia reported its employment report covering the first month of 2015. Economists expected a weak figure and were looking for job losses of 5,000 in January while the unemployment rate was expected to increase by 0.1% to 6.2%. A range of factors were pointing towards a weaker employment figure such as ANZ Job Advertisements which rose only 1.3% in January. Forex traders received a negative surprise this morning as the employment report was released in Sydney. The Australian economy lost 12,200...
You may have come across the term revenge trading as you have researched forex trading and educated yourself about the different aspects of trading. Revenge trading is a very dangerous mistake which many new traders fall victim to. Inexperience is the primary source of revenge trading. An inexperienced trader is not prepared for all possible outcomes when they place trades and then need to react once their trade is live. What is revenge trading? Revenge trading is the emotional reaction of a trader after facing a trading loss. Many new...
The memories of Thursday, January 15th 2015 are still rather fresh and many may have not yet recovered from the day the Swiss National Bank decided to shock financial markets which wreaked havoc on the forex market. The Swiss Franc rallied over 40% in less than 60 minutes against the Euro which did not only render stop loss levels invalid, but also caused total losses in the account of forex traders. The market was essentially 100% long the EURCHF. A lot of forex traders saw their account balance turn negative. This is an event which is...
The RBA surprised forex markets today as they cut interest rates down to 2.25%. Most economists expected the RBA to not to anything and keep interest rates at 2.50%.This continues the surprises delivered by central banks since the starts of 2015 which signals much more market manipulation by different banks which impacts forex trades for everyone. The Australian Dollar was punished by forex traders after the interest rate cut was announced which may have been the purpose of the cut altogether. RBA Governor Stevens mentioned many times that an...
