Good Morning/Afternoon/Evening Traders... A beginning to a new week. I ran across an article that you may find interesting, "Yuan Poised to Become Reserve Currency, Goldman's O'Neill Says" It is a Bloomberg article and can be found at http://www.bloomberg.com/apps/news?pid=20601103&sid=aD4LDUDg61VU With the political climate constantly changing in the world today it is easy to lose site of what we are doing, which is to follow our charts and make profitable trades. I will try "not" to show any political leaning but will from time to time post an article that is important to traders and could possible move the market. I do not trade major news items on there release, and if in a trade I will square my accounts until after the news has been released. Then if it makes sense I will re-enter the trade and all it cost me was a few pips which I have found to be cheep insurance. In the next few hours I will begin posting trades as I see them. Normally at this time (The beginning of a trading week) I let my charts catch up to the weekend data. If Fridays close is within 10/15 pips of the new weeks open, I will enter a trade early when one reveals itself. BUT... I follow my charts as a pilot follows his instruments. Add a dash of intuition and experience and this has proven to be a winning combination. A word of caution... always confirm a trade with your own charts. It's not good enough to follow someone without seeing the whole picture. My signals are designed to alert you to what I am doing and what I see in the market. Watch your charts and I trust you will see the same. Act on your own understanding of the market and always use the appropriate money management for your account. FXDMG
Forex trading - live day trading course and currency trade room.
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