The Four Deadly Enemies Of Successful Forex Trading
How many times have you looked at past trades and thought to yourself: “Gosh, how could I have been so stupid?” I know I have… even though it pains me to admit it. Looking back, I can see that many mistakes I’ve made have been because I couldn’t control my emotions. I learned this lesson the hard way… as I know so many other traders have. The trader’s four deadly enemies are: Ignorance, Greed, Fear, and Hope. The Four Riders Of The Trading Apocalypse Let’s start with Greed, not because it’s one of the seven deadly sins, but because it’s…
How To Trade Red Economic News Events
How To Trade Red Economic News Events SCALPING A RED NEWS EVENT If I’m scalping to a red news event, I’ll trade in the direction of the Daily trend, using the scalping 3 chart set up. Using a trade manager is imperative, but the take profit and stop settings need to be wide, like if you were swing trading, because a news event has the potential to move a pair anywhere from 40 pips to hundreds of pips. For news trading, you have to use the Forex Factory Calendar to choose the red economic news events you want to trade. …
All About NonFarm Payrolls And How To Trade It
NonFarm Payrolls is the most important economic news event for the US market. The U.S. Nonfarm Payrolls and Unemployment Rate, or NFP for short, comes out the first Friday of each month at 7:30 am EST. Besides FOMC announcements, NFP is one of the most volatile economic news trading events of the month. The NFP is released by the U.S. Department of Labor on the first Friday of each month, outlining changes in the number of employees, excluding farm workers and those employed by the government, non-profit organizations and private households. The NFP release, per market consensus, is expected…