thread: What should you be doing?

Nice glad and ribbon to property in here. Look forward to seeing more during your coffee break mate.

Nik, you are right, although I have seen some good moves on a Monday and a Tuesday (generally after an NFP Friday or a rate change), frequently they're a disappointment.

Palabara: Thank you for the comments. I believe I'll continue the thread a bit longer.

I have no lack of topics to write about. The drawback I have is of time. Believe it or not, there is life outside forex trading. But with all this space to fill I can feel indulgent and write about what I believe I should be doing once in a while. What I have my eye is cable. Gbp/Usd is a exciting pair with powerful, frequently sustained moves. The news release is at 09:30 UK time slap bang in the middle of the London action.

After last week's FOMC release most pairs shaped inside bars daily after and are by now trundling off in the direction they chose, knocking out stops and gaining momentum against the dollar. Cable remains stuck in the doldrums and this is unusual and I have been watching. I have always been a sucker for dual inside bars and I like this one since cable was left at the starting post. So my trade of the day will be to get on the cable proceed at 09:30 UK time, with a view to hold for a couple of days at the least. That means I will not be putting my trade at 09:31 or perhaps 09:35, but more likely awaiting the news transfer to evaporate and awaiting a continuation.

Rookies should watch (almost fell off my chair with mirth) and utilize cliqforex's excellent Calendar feature to analyse what goes preceding releases caused and the way they could possibly profit from that knowledge.

Anyhow. Coffee is awaiting me.

Thanks Nik. Friday. Friday isn't generally regarded as a good day for trading because big traders will square off their positions that could cause unexpected moves, often precipitating counter trend movements. You can assist the effect by shutting any profitable transactions taken earlier in the week that aren't strong rankings. Probably a smart move. At the close of the month, particularly if it is a Friday, the result is much stronger. If we examine this impact by looking back via charts we can also see how this might work to our benefit, giving a better...

I used to despise dread and hate once again Fridays. It would constantly ruin a good week, and leave you miserable for the weekend.

Monday morning. Happy Monday. This morning is a great time to reflect on last week's moves. Look at the chart and try to analyse what moves were created, why, and if they will last. Likewise, the start of the week is a great time to check over your tools. What tools? You may ask. Well, a van driver may check the motor, a manufacturer may check the order publiion and inventory of raw material. As a trader, my principal tool is my funds. My money. Without that I'm just sidelined, a spectator. So I believe I'll check my exposure to the market. I'm speaking...

Mondays are also great for optimism supposing Friday was survived lol. Nice analogy.

I believe that you can add one more thing that rookies might find useful.

Main action on market begins from Wednesday.

Monday and Tuesday are observation periods, to comprehend main management for the upcoming week.

Personally, I do not urge rookies to trade on Friday, since it's full of unexpected/sudden moves.

Stay green,

Monday morning. Happy Monday. This afternoon is a great time to reflect on last week's moves. Examine the chart and try to analyse what moves were made, why, and if they will last.

Likewise, the beginning of the week is a good time to check at your tools. What tools? You could ask. Well, a van driver may check the engine, a producer may check the order book and stock of raw material.

For a trader, my main tool is my funds. My cash. Without that I am just sidelined, a spectator. So I believe I will check my vulnerability to the market. I am speaking from the view of a person who has endured days, or even months, of drawdown - completely unacceptable and something I will no longer tolerate. I used to cut them off like a dead branch. Then I place a 10 pip stop loss and also a 10 pip take profit on these and hoped for the best. It rarely is necessary. It hurts, but my losses are okay, controlled and expected.

By the way, thanks for the encouragement, kinspk and .

Now. What news now and this week?

I think this kind of thread will help a lot of traders be it rookies or veteran. Hope you can elaborate more so everybody can learn particularly when there are a lot of technical traders in this forums.

Personally, I believe this kind of thread will help a lot of traders be it rookies or veteran. Hope you can elaborate more so everybody is able to learn especially when there are a lot of technical traders in this forums.

Interesting thread, look forward to future reading, keep it up!!

Oh, although I remember, today is triple witching Friday. Mostly affecting stock futures and options (look it up) it may have some destabilising influence on the currency markets. Why? Since commercial paper becomes cash and vice versa. This has the impact of buying or selling a currency.

Thank You Nik.

Friday. Friday is not generally regarded as a good day for trading because big traders will square off their positions which can result in sudden movements, often precipitating counter trend moves. It is possible to help the effect by closing any profitable trades taken earlier in the week which aren't powerful rankings. Probably a smart move.

In the end of the month, particularly if it's a Friday, the effect is even more powerful. If we examine this effect by looking back through charts we can also see how this could work to our benefit, providing a much better price to rejoin the weekly or yearly tendency.