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Showing Posts 1 - 15 out of 18 found.

Canadian Dollar: Loonie Hugs a Key Floor

Canadian Dollar: Loonie Hugs a Key Floor

I'm sticking with the foreign exchange markets this week as this asset class continues to show attractive position trade scenarios (short euro and yen are both working out nicely). The Canadian dollar futures contract is pressing technical support at 0.9113 for the fifth consecutive day and intraday price weakness has so far attracted buying. This line in the sand is a 50% retracement of the...

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The Three T's For Day Trading In The Forex Market

The Three T's For Day Trading In The Forex Market

FX trades nearly $5 trillion each day, according to 2013 Bank for International Settlements Triennial Report. Many traders are attracted to the FX market due to this substantial amount of liquidity and the ease of getting into and out of positions.[Editor's note: this is part three in a Learning To Trade Forex series by Daily FX on TraderPlanet. Read the previous story here.]This has led to...

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The 5 Trader Personalities- Part 5: The Engineer

The 5 Trader Personalities- Part 5: The Engineer

One’s personality is like the water a fish swims in. It colors our perceptions and decisions in a global manner that we are usually quite naive about. Frankly, one’s personality quirks often get a pass from others in the course of daily life (“He’s just that way.”), but when it comes to the financial arena, our personality strongly affects our bottom-line results.   [Note: In my work with...

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Bear Pennant Makes Eurodollar A Nice Short

Bear Pennant Makes Eurodollar A Nice Short

The euro's value to the dollar (EURUSD) was one of the more bullish currency pairs in the first half of the year, but the trend reversed in May. The chart exhibits the Wall Street adage that “markets take the stairs going up and the elevator going down.” I don't see any technical evidence suggesting the downtrend is near an end. The Chart Since the beginning of August, EURUSD has been...

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How To Trade Forex: Fundamental Drivers For FX

How To Trade Forex: Fundamental Drivers For FX

Many FX Traders spend time learning how to spot trends or reversals on the chart without focusing on what causes those trends or reversals. The news, or fundamentals behind a currency pair, is often the reason for major moves that traders look to trade.  Today, you’ll receive a basic primer on major economic reports and how they impact Forex. [Editor's note: this is part two in a Learning To...

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The 5 Trader Personalities- Part 4: The Realist

The 5 Trader Personalities- Part 4: The Realist

It is as difficult to perceive one’s own personality as it is to see one’s face without a mirror. It sometimes takes frank feedback from someone we love to really get a sense of who we actually are. Most advice you hear about trading is not objective advice… it is already colored by the personality of the person offering it. And almost always that person is touting the specific information...

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Liquidity Rules: Commercials Remain Big Buyers Of Eurodollars

Liquidity Rules: Commercials Remain Big Buyers Of Eurodollars

Eurodollars are basically, U.S. currency held abroad. These free flowing dollars exist outside the scope of U.S. financial regulation. These funds allow banks and investors the opportunity to own, lend or borrow U.S. dollars based on the rules and regulations of the country where the money is held. Foreign banking regulations are typically, less costly than our own. Therefore, the Eurodollar...

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How To Get Started In Forex

How To Get Started In Forex

People wanting to get started in the Forex market normally have 3 common questions. What is Forex, how is it traded, and how do traders find trading opportunities? In today’s article, we will answer all 3 of these questions to better prepare you for trading in this exciting market. What is Forex? How is it Traded? The Foreign Exchange Market, or “Forex” Market, is the largest market in the...

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The 5 Trader Personalities- Part 3: The Artist

The 5 Trader Personalities- Part 3: The Artist

One often hears the advice to “trade according to your personality,” but most personality models are useless when it comes to trading. In my work with top traders I’ve developed a model consisting of 5 Trader “Types” that helps traders understand themselves. Once you see how your own personality affects every single decision you make, you can begin to account for your natural biases. This...

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Time To Short the Yen

Time To Short the Yen

The yen has been in a weakening trend against the dollar since October 2011 (USDJPY has been rising). On June 24 I advised staying out of this market amid a choppy sideways trend, the kind of environment that eats antsy traders for lunch but creates big opportunities for those who are patient. In the past two weeks, USDJPY confirmed key technical support and the chart is showing an...

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Big Picture Outlook: Commodity Currencies

Big Picture Outlook: Commodity Currencies

Keeping an eye on the currencies of big commodity producing nations not only provides us insight into demand for commodities but the health of emerging markets as well. Canadian Dollar (CAD) was turned back at the 38.2% retracement of the 2012 decline (part of the 2011 bear market). With the break of the bear flag last week it appears the bear market rally is over. Figure 1 Canadian dollar...

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Euro: Classic COT Buy Signal Seen

Euro: Classic COT Buy Signal Seen

The Euro currency has been range bound over the last year, stuck between $1.33 and $1.40. Looking Back Late this spring, the market tested $1.40 again and has been in a gradual slide, since. The summer’s slide has generated an interesting development. Typically, we would have viewed spring’s $1.40 failure as highly negative, a double top at best, or an obvious sign that Euro as a Union can’t...

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Psychology: 5 Trading Personalities - The Warrior

Psychology: 5 Trading Personalities - The Warrior

Last week I discussed how one’s personality has a substantial influence on investor/trader behavior. In fact, one often hears the advice to “trade according to one’s personality,” but most models used by psychologists for defining personality are designed for the corporate world, to help management identify leaders and team players. These standard models provide very little useful...

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Dollar Rally Could Hit Euro Hardest

Dollar Rally Could Hit Euro Hardest

It looks like a long period of churning in Dollar Index futures is poised to resolve higher. Given the duration of the basing activity, this favors a rising trend in the intermediate term (three to 12 months forward). Looking across the major currency pairs, the euro appears to be the one taking the biggest hit and the charts suggest that could continue (I had been bullish on the euro...

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Psychology: The 5 Trader Personalities

Psychology: The 5 Trader Personalities

I recently wrote several articles for TraderPlanet about how brain type affects one’s attitudes, mood and behavior when trading and investing. Tendencies toward impulsivity, anxiety and even addiction may be the result of chronic under- or over-active brain states. Additionally, closed-mindedness concerning market-related topics also tends to be mediated by one’s brain state. Brain types,...

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