Now, more than ever in my career as a speculator of the financial markets and an instructor of multiple assets for Online Trading Academy, do I feel that there is one saying which sums up the nature of trading better than any other: “Trading is Simple – but it is not Easy.” Time and time again I have drilled this into my students on an ongoing basis, be it through the medium of the classroom or via the ongoing XLT (Extended Learning Track) online internship we offer our students. During these XLT sessions, we have a mixture of both lesson days, which reinforce that learning from the classroom environment and expand upon it further and the rest of the time is made up of live analyzing and trading the FX markets.
These live trading and analysis sessions are held at various times during the week, so as to cater for the unique nature of the global currency markets and the fact that there are different times across the week which offer an abundance of trading opportunities to the disciplined, rule-based trader. The students of the Forex XLT recently requested that we adopt a new session based around the New York open at 9.30am EST and 2.30pm London time (where I am based). As many Equities traders may already know, the open of the stock market is usually one of the most frantic and volatile times of the trading day, as many traders and institutions place their orders, and build the positions for the day ahead. However, as our graduates know, for a trader with the right education and understanding of the market, the opening bell often creates some very low risk and high potential reward trades for the disciplined speculator, if they know what they are looking for.
So why am I talking about stocks when this is supposed to be an article on FX? Well as a multi-asset trader myself, I know that all of the various asset classes trading around the world at any given time are uniquely linked in some way, shape, or form. The complete trader understands that these relationships can be advantageous if understood correctly and it can be something as small… Continue Reading
