Forex Day Trading Room

EUR/USD Just a quick not to say hi and let you know that there is a way of handling a boring/monotonous/routine like sitting in front of the screens hour after hour when the market is flat. The problem is that our minds want to wonder BUT can you imagine what it must be like to be a truck driver who must be alert mile after mile????? Thank goodness they have worked it out or we would all be in trouble. Setting goals is a good way of breaking up your day. I personally divide up my hour into four parts and give myself tasks to complete each 15 minute cycle. Look at the daily chart, 4 hour chart, 15 min, 5 min & 1min chart. Check how the 34 interacts with he 89 EMA and see how the 5 interacts with the 3 min EMA. NEVER LET YOUR MIND WONDER AWAY FROM YOUR TRADING !!! OTHERWISE YOU SHOULD TAKE A BREAK AND GO HAVE COFFEE WITH YOUR WIFE/HUSBAND. TO BE HALF TRADING WILL COST YOU MONEY AND EFFICIENCY. I know that this is trading 101, but still good advice. FXDMG

Forex trading - live day trading course and currency trade room.

Forex Day Trading Room

EUR/USD Good Morning Everyone... London opened at 7 AM GMT (7 + 1 = 8 AM London time) and the market is looking for a direction. Today we are looking for small trades as we wait for FOMC out at 18:00 GMT. 1.3400 the figure seems to be support right now. We will spend more time watching the 1 min and 5 min for quick in-&-out trades. FXDMG

Forex trading - live day trading course and currency trade room.

Forex day trading room dollar strengthens

€ The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3485 level and was capped around the $1.3590 level.  The common currency came off despite light liquidity on account of the Easter Monday holiday and Bank holiday in some trading jurisdictions.  Traders will pay close attention to a few key events this week.  First, former Federal Reserve Chairman and former U.S. Treasury Secretary Rubin will testify in Congress this week about the economic crisis.  Greenspan was on the tape yesterday saying the U.S. economic recovery has a "way to go" and said the build-up in inventories will expand.  Second, traders will pay close attention to the Fed's meeting today in which policymakers will be discussing requests from Fed district banks to increase the discount rate.  The Fed has raised the discount rate a couple of times over the past months and while another increase would not likely have a significant impact on liquidity, it would again signal the Fed is determined to normalize monetary policy without having to raise the headline federal funds target rate.  Third, Fed officials including Chairman Bernanke, Kocherlakota, Dudley, and Hoenig will speak this week and will offer some of their latest views concerning policy.  Fourth, major central banks will be releasing their interest rate decisions this week including Bank of Japan, the European Central Bank, Bank of England, and the Reserve Bank of Australia.  The central banks' decisions are an interesting study of the varied points the central banks are at in their interest rate cycles with RBA clearly the most hawkish and BoJ the most dovish.  Fifth, traders will closely monitor economic data to see if the decent gains reported on Friday regarding U.S. March non-farm payrolls are sustainable and evidence traction in the beleaguered labour market.  Data released in the U.S. today saw the March ISM non-manufactur [...]

Forex trading - live day trading course and currency trade room.