Dean grappling with a great deal of news flow all around the World and has forgotten one of his golden rules … trade what is in front of you!
We very pleased to wish all the Women of the South Africa a very Happy Women’s Day and I would like to thank you for everything you do for us and the massive contribution you make in our lives.
Some USD strength returned after the Non-Farm Payrolls on Friday. The number was better than expected with 255k jobs being added against a forecast of 180k. This caused the dollar to strengthen against most FX pairs and some volatility to return to the Forex markets.
A big day today with the Non-Farm Payroll numbers due out at 14:30 SA time. The last two months have yielded big trading days and some shocks but Dean not expecting a shock this time round.
I trust everyone had a good day off yesterday and voted for their party of choice! Elections seem to have slightly strengthened the ZAR with the news of certain parties taking control in certain parts of South Africa.
A good day for Dean yesterday after he chose two FX pairs to have a careful look at. He was looking at shorts in the AUSUSD and longs in the USDCAD. Both yielded about 60 pips and a good start to the trading week.
The Forex or Binary Options debate continues as traders ponder to which is best. Is or will there ever be a definite answer? Realistically it comes down to a simple question such as what your favorite color is.
One of the many reasons that FX traders do not achieve success on their trading accounts is due the costs they are paying for trading. Different FX brokers have a range of ways to charge clients for using their services and it is a great idea to see how these could be affecting your profitability.
We all know the feeling of fear. It could be the fear of losing money, not making back that money, making the wrong choices while trading or even missing trading opportunities.
Trading Emotions can be a trade killer to many but to those who can control it has the upper edge. Emotions while trading Forex or any other form of trading is something you cannot avoid.