Tuesday 31th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

A New Month...

A Fresh Start...

Every single day in this month till we end the year; remember why you ventured into trading.

I may not know your reasons individually but I am at least certain that the freedom drew me.

Intensify your desire to become a pro in the market; not ultimately for your sake but for your families & other life purposes.

Remember; The Game Of Success No Matter Your Area of Choice Is Rigged To Favour The Diligent.

Wishing everyone here the absolute best.

Take Care & Remain Safe Family

HAPPY NEW MONTH

Wednesday 1st September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

(Latest release)

OPEC meetings are usually held in Vienna and are attended by representatives from 15 oil-rich nations. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded;


Why Traders
Care:


OPEC nations represent around 40% of the world's oil supply and are unified in their oil production levels. With so much control over oil's supply-side, shifts in their production levels can have a significant impact on oil prices;
Acro Expand

TYPE OF NEWS: The Organization of Petroleum Exporting Countries (OPEC);

© Fair Economic

Source:

Australian Bureau of Statistics (latest release)


Change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect
'Actual' greater than 'Forecast' is good for currency;
Frequency
Released quarterly, about 65 days after the quarter ends;

Next Release
Dec 1, 2021

Why Traders��
Care:

It's the broadest measure of economic activity and the primary gauge of the economy's health;
Acro Expand
Gross Domestic Product (GDP);

Daily Trading Nugget

"Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets."

Michael Carr

Thursday 2nd September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

DXY at S1 SUPPORT...

Bullish Dollar tomorrow

US dollar increasingly on the defensive ahead of non-farm payrolls
https://www.forexlive.com/news/!/us-dollar-increasingly-on-the-defensive-ahead-of-non-farm-payrolls-20210902

A soft report could undo the dollar narrative
The market is obsessed with the US jobs picture at the moment but it might have overlooked other signs of weakness in the US economy.

Work & Discipline - Those are two words that most Traders resist. It is almost as if they see them as offensive. However, you subscribe to them with your employment. Or you don't eat. You discipline yourself to go to bed for work the next day. You work for your Boss.

You discipline yourself to follow your Boss' rules and expectations... or you will suffer the consequences of not doing so. You must apply the same level of urgency to learning properly, but you are in no rush. Who's the Boss going to be years from now?

"a broken smile beneath her whispered wings"

...as you were.

- Michael J. Huddleston

Here is a Quick Stat

last 7 years September

September 2014: - High 1.6643 - 1.6051 = 592 pips range
September 2015: - High 1.5658 - 1.5107 = 551 pips range
September 2016: - High 1.3444 - 1.2914 = 530 pips range
September 2017: - High 1.3658 - 1.2905 = 753 pips range
September 2018: - High 1.3298 - 1.2785 = 513 pips range
September 2019: - High 1.2581 - 1.1958 = 623 pips range
September 2020: - High 1.3482 - 1.2675 = 807 pips range

Minimum Range = 513 pips
Average Range = 660 pips
Maximum Range = 807 pips

From the above, it can be deducted that around 500 - 600 pips range will likely be seen this September 2021. Now the Big question is where will the range stretch to (up or down)?

Yearly range so far stands at 800 pips against expected range of 1400 - 1600 pips for Year 2021, This means that additional 600 pips is expected to break either 1.4249 or 1.3450 between September to December 2021.

Bias: as far as 1.3980 is unbroken this September, 1.3300 is widely exposed.

This is my research excerpt with no obligation to follow. This piece is for informational purpose.

Cheers,

- George Ssoros

Friday 3rd September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Welcome to September's NFP trade day

SEPTEMBER TIPS

DISCLAIMER: Trading foreign exchange on margin carries a high level of reward as well as risk and may not be suitable for all investors.

Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite.

The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose.

You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Past results as represented in testimonials are not necessarily indicative of future results or success.

Forex trading involves significant risk of loss and may not be suitable for all investors. Whatever you get on this document, practice and validate it first on a demo account before applying it on a live account.

EMOTIONS:

Emotions are a key part of a trader’s success journey. They alone are not enough to make a trader successful, but they play a big role as they form part of psychology and in turn affect the trading plan, risk, and management.

How many times have you took a trade and it went into profits, and you closed only to come back later to realize that you closed early because the trade has now moved very much in your predicted direction, but you had already closed so you missed that massive amount of pips? I’ll take a wild guess and say many times.

Then, the following day you enter a trade and also goes into profits, but this time around you think about what happened the previous day, and decided to hold because you want more and more pips, only for the trade to reverse and go against you till it hits your Stop Loss (SL) or blow your account.

The emotion linked to the action you took in the first scenario is linked to fear, and the emotion in the second scenario is linked to greed. These emotions have been the downfall of many traders with a great analysis skill and have also prevented many traders from experiencing long term profit consistency.

If you are one of the people who have unfortunately met this fate, then be glad you got your hands on this document because your problem has an easy solution which is hard for most people to follow because of the lack of one thing, discipline.
Yes discipline.

If you can’t control your emotions, they will control you. Trust me, emotional trading has never been a good strategy. Logical trading is the way to go. But since we don’t know where, or can’t always pin-point to the exact pip where a trend or profiting trade will reverse and
ruin our setup, how can we manage to get consistent profits as an overall outcome? The answer is to have a good analysis strategy and trading plan.

Great traders know that first we plan the trade, then trade the plan. Such trading decreases or even eliminates emotions from affecting the next trade a trader takes. It in turn increases the probability of success for that trader.

This is because a trading plan follows a more logical and strategic approach towards trade entry and management. Having a good one and sticking to it eventually leads to consistent gains.

As much as we hope of growing accounts a hundred fold in a short space of time, or holding a winning entry for months and exiting when the trend is just about to reverse, it isn’t the reality for normal trading nor is it close to being that, unless if you are the one who moves the market.

Instead of chasing the forex holy grail and the result high light reels you see posted which mostly turn out to be facades, chase proper trading which deals with high probability setup analysis followed by proper management.

That’s the key to your long-term success as a trader. This is one of the trading practices followed by apex traders. It is very simple in theory, but hard when put to action because of psychology and discipline.

The “take many trades each day, 100% win rate, get rich quick” mindsets are not a part of this trading class. The mindset is opposite. That’s what easily transfers money from the losing 90% to the winning 10%. Having a trading plan also asserts another important skill/manner into a trader’s life, patience.

A trader needs to be patient enough to wait for the requirements of their strategy to be met. They shouldn’t rush or force a trade. If a high probability setup does not present itself or the trade is missed, the analysis is scratched off and a new one is initiated. Only pull the trigger when your target is locked in the scope.

If you fail to plan,then you plan to fail.

20 Mins to News Release

Kaesyrn:
20 Mins to News Release

Bearish Dollar

Daily Trading Nugget

Don't Be Afraid to Cut Losses
"If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: get out, because you can always get back in." —Paul Tudor Jones

Loss aversion—an unwillingness to cut a loss—is one of the most common trading problems and can deplete an account quickly. On the flip side, not giving winning trades enough room to run can also be a problem. If you win less than 50% of the time, winners have to be bigger than losers on average. Even if you win more often, strive to keep your average loss smaller than your average win.

Recipe For Freedom:

Know where you are.
Understand where you want to be.
Work for it... no matter the cost.

Periodically look back and see where you came from to measure progress.

Do not look to your left or your right and compare your progress with others. It is not a race.

Submit to time. When you put in enough, you will arrive. Some need to pay more than others in the currency of T.I.M.E.

No matter what... quitting is not an option.

Results may vary.

- ICT

Monday 6th September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Kaesyrn:
Monday 6th September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

There's holiday in the United States today
LABOUR DAY

Volatility on most pairs will be low today, as there's also no news to cause volatility in the market

Trade safely

Price at psychological level as we tend to the downside this week on GBPUSD, EURUSD, AUDUSD...

DXY probable to pick up bullish momentum

Daily Trading Nugget

Manage Your Risk

"Whenever I enter a position, I have a predetermined stop [loss]. That is the only way I can sleep. I know where I’m getting out before I get in. The position size on a trade is determined by the stop [loss], and the stop is determined on a technical basis....I always place my stop beyond some technical barrier." —Bruce Kovner
The stop-loss order is one of the simplest ways to control risk. Under normal market conditions, it will keep your risk limited to a specific amount of capital. With the maximum risk known, you can then assess whether the profit potential of the trade is worth the risk.

"Instead of avoiding losses, focus your trading strategy on making your winners bigger than your losers."

Tuesday 7th September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

#QuickReminder

ICT, after taking a $5k account to exactly $203,637 within 8weeks interval (July 23 - Sept 13, 2019), said:

"Now when we close this week out I want you to recall that I mostly traded EurUsd and GbpUsd. I had a few odd pairs in there for variety but 99% was Fiber & Cable. You do not need 28 pairs. It's distracting. You can make a career with one."


You can actually make a career with one. Max, 2.

Journal that.

Daily Trading Nugget

“Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.”

Wednesday 8th September, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Intraday bias in GBP/JPY remains neutral for the moment. Further rally is mildly in favor with 151.32 minor support intact.
Above 152.27 will target 153.42 resistance first. Decisive break there will argue that whole corrective pattern from 156.05 has completed, and bring retest of this high.
On the downside, however, break of 151.32 minor support will turn bias back to the downside for 149.16 support instead.


EUR/JPY is staying in consolidation form 130.73 temporary top and intraday bias remains neutral first.
As long as 129.14 support holds, further rise is in favor. Corrective fall from 134.11 could have completed at 127.91 already.
On the upside, break of 130.73 will resume the rebound from 127.91 to 132.68 resistance next. However, break of 129.14 will dampen this bullish view and bring retest of 127.91 low instead.


Intraday bias in EUR/USD remains neutral for the moment. On the upside, sustained break of 1.1907 resistance will indicate that fall from 1.2265, as well as the consolidation pattern from 1.2348, have completed.
Near term outlook will be turned bullish for 1.2265/2348 resistance zone.
However, on the downside, rejection by 1.1907 followed by break of 1.1792 support will dampen the bullish case, and turn bias back to the downside for 1.1663 support instead.


EUR/CHF’s rise from 1.0694 resumed after brief retreat and intraday bias is back on the upside. Next target is 1.0985 resistance.
On the downside, below 1.0843 minor support will turn bias neutral and bring consolidations again first.

Nice one boss