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So let’s summarize the price action… I know this is just one flow but has impacted both spot pairs
EURGBP extended its bounce from .8295 to .8323
EURUSD firmed and GBPUSD followed with a lag
EURGBP stalled below .8325 (thanks to The Amazing Trader for that level) and then slipped back
GBPUSD firmed as the cross slipped
EURUSD barely moved
EURGBP did not go far on the downside, GBPUSD lost its cross bid, EURUSD slipped back with a lag
Sounds like a puzzle… this is using crosses to trade Spot101
Contact me jay@global-view.com if you want a further explanation
This is a popular article that is worth revisiting
I first heard the term “feels bid in an offered market” on the Global-View.com Forex Forum many years ago. It was posted by one of our professional trader members, LA Mel, who used the term mainly for the EURUSD. However, it soon became apparent that it could be applied to all currencies and on both sides of the market (e.g. feels offered in a bid market and vice versa). I soon added to my trader toolbox and still use it today
What Does it Mean When a Currency Feels “Bid in an Offered Market?”
A look at the day ahead in U.S. and global markets by Harry Robertson
From U.S. small-cap stocks to bitcoin to the dollar, some investors are seeking out assets that can prosper under a second Donald Trump presidency.
The former president has taken the lead over Vice President Kamala Harris in betting markets, although Harris held a marginal lead in a Reuters/Ipsos poll this week.
So-called Trump trades focus on those parts of the global economy likely to feel the force of tariff hikes, deregulation, and bigger deficits.
Newsquawk US Open
Chinese sentiment lifted overnight whilst European markets are tentative and choppy thus far
Good morning USA traders, hope your day is off to a great start! Here are the top 5 things you need to know for today’s market.
5 Things You Need to Know
European bourses mixed/firmer given China tailwinds; NQ +0.5%, driven by NFLX +5%
USD is broadly softer vs peers, GBP outperforms after Retail data, Antipodeans benefit from China data & PBoC musings
Fixed benchmarks relatively contained, Gilts initially hit on data while EGBs & USTs attempt to move higher
Choppy trade for Crude into a weekend of potential geopolitical risk. Metals glean support from China
Chinese sentiment was eventually lifted after comments from PBoC Governor Pan who reiterated that they could cut RRR further this year and noted expectations for a 20bps-25bps reduction in the Loan Prime Rates on Monday.
Some ECB governors at this week’s meeting wanted to drop the [;edge to keep policy tight, according to Reuters sources (Newsquawk.com)
USDJPY 1 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s hot: When it trades above 150
What’s not so hot: When it trades below 150
Note 50% FIBO at 150.75 vs. high at 150.32. Maybe the MoF watched our forum as there was some vague verbal intervention that seemed to cool the upside.
To suggest the high is in 149.39 would need to be broken.
EURGBP DAILY CHART – WHAT’S HOT AND WHAT’S NOT
What’s not: Not EURGBP which extended its low (by 5 pips) to .8295 before a quick bounce back.
On the upside, intra-day resistance start at .8325, upside limited while below it.
As I have been noting, this cross can be used as a EUR strength/weakness indicator with an influence on both EURUSD and GBPUSD.
EURUSD 4 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s not: Not the EURUSD but the pause above 1.08 yesterday (1.0811 low) suggests a possible defense of an option level.
In any case, EURUSD is taking a breather as the USD backs off a touch elsewhere but would need to renew 1.0850+ (the bias setter, upside limited while below it) and then break 1.0873 to suggest anything other than ajust a minor retracement.
With that said, no key stops are left on the downside until the low is taken out.
XAUUSD 4 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s hot: XAUUSD as it set another record high (2714)
As I have noted, when in record unchartered territory use the most recent high (low) as the only resistance (support).
As also noted yesterday, expect support as long as it trades above 2680-85, and add in 2700 for it to have a mega bid.
Small-cap stocks, bitcoin climb; Mexican peso, Treasuries slip
Trump Media & Technology Group shares up 140% since Sept. 23
Investors debate if market moves are due to Trump or economic optimism
NEW YORK, Oct 18 (Reuters) – Corners of financial markets that could feel the impact of a Donald Trump victory are stirring again, as the U.S. presidential race tightens with less than three weeks until Election Day.
From bitcoin to Mexican peso, ‘Trump trades’ are appearing again
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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