Forex News and Reports

Where you stand in relation to the overall technical evidence may be more important than an individual candlestick pattern.

For example, a bullish candlestick in a major bearish  market should not be used as a buy signal. A bullish candlestick formation, especially when confirmed by other technical indicators in a bull market, would be a buying signal point.

I’ve found this proverb in a trading book and i like it :

“A prudent man has more than a string in his bow “

After a dropping for most of the Asian session, EURUSD staged a vicious one-way rally that took the pair to record highs by early European trade.

The US dollar posted its largest single-day loss in over a year, as speculation for future US Federal Reserve interest rate cut doomed the greenback to further drops. Outlook has grown increasingly dim for the downtrodden US currency, as both speculative and sovereign traders show very little interest in holding dollars. Continued speculation that key oil producing countries may drop the dollar as their primary reserve currency has clearly hurt the USD, while increasingly pessimistic forecasts for US economic growth and interest rates has likewise hurt confidence in the dollar.

Retail Forex Trading Explained…

A few year ago, Dirk du Toit wrote this book.

Below are some of his ideas, as i can remember them. I hope this will help you to understand better the forex exchange market.

he has a personal trading system, 4×1 and median system.

it’s very important to understand probability.

trading is not a spectator game.

don’t forget that, we traders, are the market

the forex market is a game, a game of chess…

stop further losses

in currency trading, you live in real time, or you don’t live at all.

he believes that you must never forget that in the end forex is only a business where you must have profit.

don’t underestimate your common sense.

don’t use a very high leverage.

Forex exchange market is not a common exchange market.

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