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Guest OILFXPRO

Why Buy Trading Education?

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Someone who has put so much effort to actually getting good at this game, is probably a little obsessed with said game...so why would they not be on forums? We are.

 

I suppose it depends when they started out. There's nothing of interest or value on the forums these days. The old crowd might hang around for laughs and from habit, but I very much doubt that anyone new to the game will be contributing to any forum 5 years from now.

 

The other issue as you point out is that there's no incentive really to publish anything of value, and definately not on a forum.

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Guest OILFXPRO
I suppose it depends when they started out. There's nothing of interest or value on the forums these days. The old crowd might hang around for laughs and from habit, but I very much doubt that anyone new to the game will be contributing to any forum 5 years from now.

 

The other issue as you point out is that there's no incentive really to publish anything of value, and definately not on a forum.

 

Most of the forums are operated by internet marketeers , who destroy forums and supress free content , for their own pockets .In fact most of them operate several forums , they are operated in the interests of sponsors , yes they delete threads and ban members , manipulate content for screwing the members .Many traders have wasted their time on forums operated by scammers and full of idiots.

 

Why would some pros hang around forums?Most of the discussions and opinions are nonse and a waste of time .The owner deletes threads and manipulates content .for the professional idiot to waste his time on forums.

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Most of the forums are operated by internet marketeers , who destroy forums and supress free content , for their own pockets .In fact most of them operate several forums , they are operated in the interests of sponsors , yes they delete threads and ban members , manipulate content for screwing the members .Many traders have wasted their time on forums operated by scammers and full of idiots..

 

I think you are being a bit tough on forums. Some forums are worse than others. The t2w zoo is currently the best example of a group of internet marketers cynically manipulating the stupidity of the few to exploit the gulability and ignorance of the many. However, I, and many others wouldnt consider the time we spent posting there as "wasted".

 

I know traders who where once evangelical supporters of forex factory, elite trader, big mikes, this place etc, but who are now totally disgusted about how these places are operated, but even so, most still have no regrets about trying to help out others.

 

I dont think forum owners are getting things quite their own way. Check out the scale of the resources being wasted by management over at the zoo in a desperate and totally futile attempt to stay afloat as their site traffic drops to new lows. Its not easy to get the full picture, and I personally think the situation is a lot worse than it looks, but one things for sure, time's must be pretty desperate, and unless something changes soon, this particular market will have been juiced dry, at least by the forum business model. The zoo will probably be the first failure, but there's a few in the queue shortly behind them who wont last much longer.

 

 

However even in a place like the t2w zoo operating a proactive policy of dumbing down content, there's still quality historical content despite the sites current adgenda. Thankfully content editors on most forums are simply not capable of assessing the impact of most of the content thats posted. Good stuff does occassionally slip through the filters, and despite the abundance of dumbed down effluence thats actively promoted and hyped on most forums, I'd be hard pushed to identify a single forum that didnt contain something of value. Sure, you could write the combined output of decent stuff on the back of a small sheet of postage stamps, but there's decent nuggets of information that can be mined. I dont follow TL very closely, and their output has reduced substantially over the last couple of years, but Ive seen at least 2 posts that pretty much let the cat out of the bag for anyone that followed up ideas in those posts.

 

Im often asked for advice, and one of the very few things that Im usually prepared to say is "avoid forums like the plague", and whilst I stand by that advice, even I would be forced to admit that there's a wide spectrum of damage that forums cause, ranging from totally destructive, through to mostly harmless.

 

One of the big sticking points for me is the issue of LULZ ?

 

There's no better source of lulz anywhere on this plannet than t2w during their period of the sites decline, its pure comedy gold. Most people who want to trade for a living are going to fail, in the same way that most of us as children wanted to play football as a career failed to achieve those goals, and for precisely the same reasons. If you are going to fail, surely you might as well share a few laughs along the way ?

 

I think we need to accept that time's constantly change and whilst you might argue that the zoo contains a vast amount of seriously damaging content, most of its content is mostly harmless, and there's been no trading related content at all for the past 5 years. What harm can it really do accessing a source of entertainment (other than soiling one's pants laughing)

 

At a push, you might even argue that if a site such as the zoo is proactively censoring content, deleting posts that are damaging to its sponsors etc, then thats actually very useful information if you are lucky enough to witness that happening.

 

I know a couple of people who seriously considered paying mike baghdaddy for training, but changed their minds after seeing t2w deleting posts. If t2w handnt deleted the posts, theyd have gone ahead and wasted relatively large sums of money. It was only t2w's actions in covering up the truth that led these people to understake further due dilligence. I'm not just singling out t2w, I know of similar instances at forex factory, forex tsd and baby pips. So in some ways, the internet marketers running forums do provide useful information, if you know how to interpret it.

 

Even the frequency at which I post on this forum gives away information if you know how to interpret it !

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If this is true, about all the big forums, I wonder what would happen if someone were to start a completely open forum where a "Hands off" moderation policy was the MO? Say moderating only things like swearing, or blatant personal attacks and such.

 

I think you are being a bit tough on forums. Some forums are worse than others. The t2w zoo is currently the best example of a group of internet marketers cynically manipulating the stupidity of the few to exploit the gulability and ignorance of the many. However, I, and many others wouldnt consider the time we spent posting there as "wasted".

 

I know traders who where once evangelical supporters of forex factory, elite trader, big mikes, this place etc, but who are now totally disgusted about how these places are operated, but even so, most still have no regrets about trying to help out others.

 

I dont think forum owners are getting things quite their own way. Check out the scale of the resources being wasted by management over at the zoo in a desperate and totally futile attempt to stay afloat as their site traffic drops to new lows. Its not easy to get the full picture, and I personally think the situation is a lot worse than it looks, but one things for sure, time's must be pretty desperate, and unless something changes soon, this particular market will have been juiced dry, at least by the forum business model. The zoo will probably be the first failure, but there's a few in the queue shortly behind them who wont last much longer.

 

 

However even in a place like the t2w zoo operating a proactive policy of dumbing down content, there's still quality historical content despite the sites current adgenda. Thankfully content editors on most forums are simply not capable of assessing the impact of most of the content thats posted. Good stuff does occassionally slip through the filters, and despite the abundance of dumbed down effluence thats actively promoted and hyped on most forums, I'd be hard pushed to identify a single forum that didnt contain something of value. Sure, you could write the combined output of decent stuff on the back of a small sheet of postage stamps, but there's decent nuggets of information that can be mined. I dont follow TL very closely, and their output has reduced substantially over the last couple of years, but Ive seen at least 2 posts that pretty much let the cat out of the bag for anyone that followed up ideas in those posts.

 

Im often asked for advice, and one of the very few things that Im usually prepared to say is "avoid forums like the plague", and whilst I stand by that advice, even I would be forced to admit that there's a wide spectrum of damage that forums cause, ranging from totally destructive, through to mostly harmless.

 

One of the big sticking points for me is the issue of LULZ ?

 

There's no better source of lulz anywhere on this plannet than t2w during their period of the sites decline, its pure comedy gold. Most people who want to trade for a living are going to fail, in the same way that most of us as children wanted to play football as a career failed to achieve those goals, and for precisely the same reasons. If you are going to fail, surely you might as well share a few laughs along the way ?

 

I think we need to accept that time's constantly change and whilst you might argue that the zoo contains a vast amount of seriously damaging content, most of its content is mostly harmless, and there's been no trading related content at all for the past 5 years. What harm can it really do accessing a source of entertainment (other than soiling one's pants laughing)

 

At a push, you might even argue that if a site such as the zoo is proactively censoring content, deleting posts that are damaging to its sponsors etc, then thats actually very useful information if you are lucky enough to witness that happening.

 

I know a couple of people who seriously considered paying mike baghdaddy for training, but changed their minds after seeing t2w deleting posts. If t2w handnt deleted the posts, theyd have gone ahead and wasted relatively large sums of money. It was only t2w's actions in covering up the truth that led these people to understake further due dilligence. I'm not just singling out t2w, I know of similar instances at forex factory, forex tsd and baby pips. So in some ways, the internet marketers running forums do provide useful information, if you know how to interpret it.

 

Even the frequency at which I post on this forum gives away information if you know how to interpret it !

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Guest OILFXPRO
If this is true, about all the big forums, I wonder what would happen if someone were to start a completely open forum where a "Hands off" moderation policy was the MO? Say moderating only things like swearing, or blatant personal attacks and such.

 

You would get more traders participating in qualitative discussions , because threads would not be polluted with biased and false information of vendors , sponsors , scammers , prop shop frauds etc etc etc.

 

There would be more visitors looking for quality stuff and analysis.More traders would post more free stuff for others to benefit and you would get more free loaders.The site traffic would increase , t2w get it by advertising their site on google , hoping for someone to fall into their trap , then they make their money.

 

On E T there are a bunch of scammers trying to sell education , trend trading course and team of rebuttal posters employed by the forum .......to aid the interests of sponsors.Not a nice place for good traders to learn for free , but pay to learn from forum failures.You get attacked by PMS , if you give away quality stuff , the stuff the scammers want to sell or trick you into buying.Eventually traders will dissapear from these places.

 

I come to this site because you have a great poster Rande Howell and I learnt a lot of good things from him .Infact I have learnt more about phsyhology from phsychologists like Andrew Menaker and Mark Douglas , really brilliant writers and phsychologist .They did not want me to post a link to Andrew Menaker's site or video on Elite trader , whose stuff is brilliant , they did not want me to post the best intraday set ups on E T.Moderators send you pms threatening you.

 

 

Which pro wants wants to waste time on these sites ?

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You would get more traders participating in qualitative discussions , because threads would not be polluted with biased and false information of vendors , sponsors , scammers , prop shop frauds etc etc etc.

 

There would be more visitors looking for quality stuff and analysis.More traders would post more free stuff for others to benefit and you would get more free loaders.The site traffic would increase , t2w get it by advertising their site on google , hoping for someone to fall into their trap , then they make their money.

 

On E T there are a bunch of scammers trying to sell education , trend trading course and team of rebuttal posters employed by the forum .......to aid the interests of sponsors.Not a nice place for good traders to learn for free , but pay to learn from forum failures.You get attacked by PMS , if you give away quality stuff , the stuff the scammers want to sell or trick you into buying.Eventually traders will dissapear from these places.

 

I come to this site because you have a great poster Rande Howell and I learnt a lot of good things from him .Infact I have learnt more about phsyhology from phsychologists like Andrew Menaker and Mark Douglas , really brilliant writers and phsychologist .They did not want me to post a link to Andrew Menaker's site or video on Elite trader , whose stuff is brilliant , they did not want me to post the best intraday set ups on E T.Moderators send you pms threatening you.

 

 

Which pro wants wants to waste time on these sites ?

 

I don't thing you're fair and I am telling you why. We only ban/moderate advertising as it is not fair for anyone to come and post links to this and that just like that....if you have something to share that you learned from somewhere else, you can simply open a thread and post there using your own words and not copy/paste from others and putting links for advertising purposes....

 

just saying so to be clear...

 

TW

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If this is true, about all the big forums, I wonder what would happen if someone were to start a completely open forum where a "Hands off" moderation policy was the MO? Say moderating only things like swearing, or blatant personal attacks and such.

 

The moderation policy isnt really an issue. I doubt many of these forums even have an official moderation policy, unpaid moderators are basically told to enforce site guidelines, and then allowed to do whatever they want, and by and large that works most of the time.

 

The real issue is that any successful forum will generally require someone to pay for it, and thats possibly going to cause a conflict of interest. If you are a forum owner paying for running costs from advertising revenue paid by FXLULZ, promoting FXLULZ as a preferred broker (and earning rebates on every trade made by the muppets you reffered) and awarding FXLULZ various meaningless acolades and awards to FXLULZ, promoting them as a "shining beacon" what do you do when someone posts and points out that FXLULZ is being investigated by regulatory authoraties ? or that FXLULZ has been found guilty of various misdemeanours

 

Can you really allow someone to tell the truth about FXLULZ ?

 

The most hypocritical of forums is undoubtadly the t2w zoo, but even they are honest and open enough to admit that they have banned members simply because those members make posts that are detrimental to the sites commercial interests, and that those posts cost them money. I'm not talking about someone posting a rumour, or an opinion, I'm talking about posts that refer directly to official communication by regulatory authoraties, warnings of fraudulant and illegal activities issued by FSA, NFA, CTFC etc. Those posts are being deleted simply because the company committing that fraud are an advertiser, and the forum itself (or teh office junior) is complicit in promoting that fraud to its membership for financial gain.

 

Sites such as t2w promoting a series of illegal investment schemes to its membership on the basis that "teh office junior" isnt capable of typing a company name into Google or undertaking the most basic of due dilligence into their clients really is at the thin end of the wedge, they are saints in comparision to many.

 

Even an independant small forum might think twice about allowing negative posts on reciept of solicitors letters from FXLULZ threatening legal action.

 

And what would you do for example if you found that a member of your staff, or a moderator, or site advisor was running an illegal investment scheme which had been actively promoted on your site, and those individuals where now under investigation by law enforcement. Would you really allow free and open discussion, or would you moderate 24/7 and ensure a very tight lid remained on the story.

 

Moderation is a necessary evil, and so is censorship really. If I ran a forum paid for from my own labours, I'd get a bit annoyed watching FXLULZ's customer representatives using my resources to sell their snake oil 24/7. Id have 2 options, spend time and resources stopping them (and FXLULZ has a very big marketing department and a whole army of muppets posting on their behalf, so totally removing their effluence isnt going to be easy) OR I accept payment, at which point I'm as guilty as they are, and Ive just taken my first step on the slippery slope.

 

We are operating in a fundementally dirty and corupt business, and what happens with respect to forums is just a direct consequence of that.

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One point in the ES (S&P 500 E-Mini) is $12.50. The automated trading system we run our managed futures program with makes maybe 15 to 16 trades a month, and has gains that often around $400.00 (32 points) So if you calculate that out over a year, that is 72K profits in a year. Sounds real nice right?

 

really? 1 pt 12.50? 32 pts 400.00?

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Most of them teach you a trading system/strategy which is only 10% of the puzzle but that's what is all over pop media. My uncle paid $20,000 for a seminar lol and he still can't be consistently profitable. He's pretty good with reading charts and being able to pick which ones will go up or down.

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I think trading education is of otmost importance while trading.So to buy trading education will be quite significant.

In any type of trading we generally look for profits and to gain profit we should go to any level of learning for which we need trading education.

So in my opinion it's very imporant that we focus in trading education

Cheers

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Guest OILFXPRO
I think trading education is of otmost importance while trading.So to buy trading education will be quite significant.

In any type of trading we generally look for profits and to gain profit we should go to any level of learning for which we need trading education.

So in my opinion it's very imporant that we focus in trading education

Cheers

 

Trading is a mental game , it is all played in the mind..Knowing is one thing but doing is another ..............................these are the famous words of a trading educator , he could not do it in real time ......................He was consistently losing 30 pips a week ......when the system gave him a 70 pips a week profit.

 

It is important we focus psychology.

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Guest OILFXPRO
Yes, it is psychology combined with math, a difficult match.

 

psychology and maths combined is good ,and knowing psychology is good . but applying psychology and psychological techniques for improvement is not easy.It is not easy to rewire brains ie beliefs , systems and techniques , unless the the wiring is permanent and takes place at a young age.

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Education is the very basic thing my mate. How can you gain more money without having any basic knowledge?? You should have some good skills about market research and for that you should have trading education for sure.

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Guest OILFXPRO
Education is the very basic thing my mate. How can you gain more money without having any basic knowledge?? You should have some good skills about market research and for that you should have trading education for sure.

 

with all the skills , why are there so many gold rush merchants in the trading gold rush?

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On 14.12.2013 at 11:07 AM, Guest OILFXPRO said:

There is a lot of free educational sites , with clean clear content on trading related information.Just go to you tube and there are thousands of educational videoes , there are hundreds of free systems and methods on the internet search engines.

 

Why should you buy same or other trading education?

There is no FREE educations. If you want no learn smth you have to pay for it. It's some kind of equivalent

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On 4/1/2018 at 4:28 PM, JohnyIve said:

There is no FREE educations. If you want no learn smth you have to pay for it. It's some kind of equivalent

Thanks for the text.  We would appreciate a post. 

Here’s a sample (of size, not quality ;) ).

By the time you are ‘mature’ (maturity can come at any age) enough to trade, you have typically completed standardized ‘education’ and should drop the model asap.  In other words, conventional education model will not be effective for learning in trading and seeking a general education in trading, whether curriculum based or not,  is a waste of time and of whatever costs are incurred.  Instead, anyone ready for trading should also be ready for SELF education. Basically , to really thrive as a trader, I blve you  move beyond the currently failing ‘educational’ paradigm founded on the premise that humans can only make sense of the world via  communication with each other.

On the objective knowledge front that means seeking out only the specific information about instruments, data, exchanges, transactions, orders, etc etc you personally need to fill gaps in your understanding.   The  beginning trader typically only has about 3 really (seemingly) ‘stupid‘ questions.  Ask them.  Get it over with.  The rest of things are easy to access and learn.  You don’t need no fkn ‘education’ in it.

On the ‘sychological’ front, that means studying the opportunities and limitations of your own neurological and temperamental tendencies,  your sympathetic and parasympathetic balance and tendencies, your own limbic system, and the degrees to which you are susceptible to each trading ‘bias’ (see Daniel Kahneman, etc.)...,  your desires and what you do with them, etc. etc.  It takes deep self-study.  Reading about, taking courses, or even getting degrees in psychology won’t help you a fkn bit.  

On the methods front, that means getting in the cockpit and getting real experience with real money so you will actually learn what methods best suit your true nature.  Do that before any outside training.  Once you have almost mastered your method then you will also know what exactly what you need to work on.  Get sufficient experience in your own best method(s), then seek an expert in that method for further increases in leverage.   

With trading educators there is no transference of ability or capacity.  As I’ve said many times now, a teacher can never really teach you his method because there is simply too much differences between your perceptual maps and cognitive processes and his.  He will be unconsciously competent at things that he will never be able to ‘share’ with you, etc etc.   Wycoff could not teach you wycoff, etc.  Their  students can certainly not teach you wycoff, elliot, whoever. etc.   Trust serendipity / synchronicity -"when the student is ready, the teacher will appear".  ‘Education’ becomes a useless relic. 

The ‘voice of trading’ IS trading education that says you need to move more and more into just running scripts instead of ‘playing’ at trading ‘creatively’ .    If you think you’re the special exception that can pull off changing yourself to match up with a ‘system’, which likely you do if you’re reading this, go for it - odds be damned.  Fail forward as fast as you can.  Maybe then you’ll realize you need to get beyond ‘education’. Maybe it will dawn on you that the ‘voice of trading’ has vast areas that nothing is allowed to be spoken about.  But, YOU need not to wait until old ‘voice of trading’ deteriorates completely and new media, etc. emerges.  

Sorry I don’t have time to be queer this up or make it gender indeterminate for our precious ‘student’ snowflakes... or to be very respectful.

 Bluntly -  if you have to be ‘educated’, you’re not ready to trade.

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You don't need to spend some money to learn especially in Forex, for almost the platforms available nowadays caters online educational materials in which you can use in order to gain knowledge in whatever you need to do.

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I agree with zdo, if you need to be educated you're not ready to trade. But after all, the education is mostly for beginners who are not ready anyway. I buy education as well, just because I like to have everything in one place and most importantly from a reliable source. Youtube nowadays is just full of opinions, but no real easy to follow guides, or some good tests for example that I like. A well educated person will always be one step ahead in my opinion.

Now other thing to mention by the way. You also pay for your time when buying education. Searching the internet for hours is just a pain. You lose time, and you can also get a misconception about trading, which will then again lose more time for you, and could even lose you money.

Let me know what you think about my opinion.

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I don't think you need to buy expensive books and courses to understand anything. You can study and gather knowledge about anything in this age of internet. It is just a misconception brought into the mind of people that it costs only money to be successful.

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I see what you mean, but you actually do need money to start off of anything, and you need even more money to be considered as successful.
I am not against webfinds, but a good lecture can surely only help. At least I have been purchasing educational material myself and trading is not the first on this list. That's why I say it's worth it.

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The idea of cutting your learning time many hours is valuable for me. I like saving time so I can spend it with family, relaxing, etc. Also like learning from less source and not seeking among hundreds of answers but using a reliable source. Maybe one doesn't have to invent every rule on his/her own but use the knowledge of others. I mean maybe you are not da Vinci, but you can still make a living by doing what he does.

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On 26/06/2018 at 9:56 AM, Jason Solomon said:

The idea of cutting your learning time many hours is valuable for me. I like saving time so I can spend it with family, relaxing, etc. Also like learning from less source and not seeking among hundreds of answers but using a reliable source. Maybe one doesn't have to invent every rule on his/her own but use the knowledge of others. I mean maybe you are not da Vinci, but you can still make a living by doing what he does.

The problem is there are NO reliable sources. I could probably teach most people to trade, but I wont because its not in my interests to do so, how much could I charge ? and how many students could I handle simultaneously ? Its just not a scalable business proposition compared to trading, and frankly, most people arent remotely interested in trading, they just want to make money.

The other issue is you cant take "knowledge" from multiple sources and combine it. Trading systems are highly synergistic, and in order that they function, each and every element within that system needs to be somewhere near in harmony with every other element. You cant mix and match random approaches and ideas and expect things to work out.

There's no shortage of evidence that shows that most people cant even profit from trading positive expectancy simulations that are deliberately set up to return a profit. The learning time has very little to do with learning a system, its required to experience and manage the reality of handling almost random returns, and sadly that takes time however you decide to approach it 

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    • Date : 24th January 2019.

      MACRO EVENTS & NEWS OF 24th January 2019.



      FX News Today 10-year Bund yields are down -0.6 bp at 0.216% in opening trade. Treasury yields also fell back from overnight highs and are now down -0.2 bp at 2.739%, while JGB yields remain up 0.8 bp at 0.001%. Stock markets mostly managed to move higher in Asia overnight (excluding the Nikkei which closed with a loss of 0.09%) and DAX futures are also up, while US futures are narrowly mixed and the FTSE 100 future is swinging between gains and losses. Brexit developments remain in focus, but while in the UK officials continue to struggle to find a consensus on the way forward, the focus in the Eurozone turns to the ECB meeting today. Rates are widely expected to remain on hold and the guidance little changed, but Draghi is likely to sound much more cautious on the growth and inflation outlook, which should underpin stock markets. Norges Bank is also expected to hold rates steady and the data calendar focuses on Eurozone PMI readings, which are expected to show further weakness in the preliminary release for January. US earnings reports have helped to underpin risk appetite in recent days, while the ongoing government shutdown is preventing timely data releases and leaving investors focused on trade talk developments, company news and in Europe, Brexit jitters. Charts of the Day

      Main Macro Events Today EU Services, Manufacturing, and Composite PMI – The Services PMI is expected to come out at 51.5 in January, compared to 51.2 in December. This is expected to have a positive impact on the Composite PMI, which is expected to rise to 51.4 compared to 51.1 in December. The Manufacturing PMI is expected to have remained at the same levels as in December. World Economic Forum at Davos – The third day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. ECB Interest Rate Decision – ECB is not expected to proceed with any changes in the interest rate yet as it is has just started evaluating the effects from the end of QE in December. However, communication could provide important information regarding the future path of policy. US Jobless Claims – Initial Jobless Claims are expected to rise to 220k compared to 213k last week, while Continuing Jobless Claims are expected to decline slightly to 1.735M, compared to 1.737M last week. US Services, Manufacturing, and Composite PMI – Reductions in PMIs are expected in all sectors, in conjunction with the overall perception of a slowdown in the US, and the ongoing government shutdown. Support and Resistance Levels
       

      Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

      Please note that times displayed based on local time zone and are from time of writing this report.

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      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Actions for the 23rd.  Hugely frustrating day, picked my spots but my timing was off.  I don't seem able to find a trade that will survive long enough for me to manage and test my patience, that in itself is testing me right now.
    • Actions for the 22nd.  I seem to be on a bad run, I'm really struggling with the opening minutes of the trades I'm taking and then get sucked into a little over trading.
    •   Date : 23rd January 2019.

      MACRO EVENTS & NEWS OF 23rd January 2019.



      FX News Today 10-year Treasury yields are down from overnight highs, but still up 0.7 bp at 2.746%, and 10-year JGB yields climbed 0.8 bp to -0.004%. Stock markets remained cautious during the Asian session. The Bank of Japan held policy steady, as expected, while further reducing its outlook for inflation. The resulting weakness in the Yen didn’t help stock markets and Topix and Nikkei dropped -0.60% and -0.14% respectively. The Hang Seng is also down -0.04%, despite mainland China markets initially moving higher as China’s central bank pumped liquidity into the banking system once again. Still, the measures are also a sign that officials are nervous about the slowdown in the economy and CSI 300 and Shanghai Comp are down -0.24% and -0.13%. The bank offered around 258 bln Yuan (USD 38 bln) to banks through its medium term lending tool. Markets continue to question the progress in the US-Sino trade talks, even though White House adviser Lawrence Kudlow said that the trade talks are still on and the story about cancelled preparatory meetings was “not true, there was never any meeting. We are moving toward negotiations.” The negotiations next week will be “very, very important” and “determinative”. Meanwhile, there are the first signs of a possible way out of the US government shutdown. Markets remain easily spooked, but appear to have already priced in a lot of risk last year and US stock futures are moving higher after yesterday’s sell off. Oil prices are trading at USD 53.27 per barrel. Charts of the Day

      Main Macro Events Today Canadian Retail Sales – After Wholesale Sales plummeted yesterday, Canadian Retail Sales are expected to have also declined by 0.4% m/m, with core Retail Sales (ex autos) expected to have declined by 0.6%. World Economic Forum at Davos –The second day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. Richmond Manufacturing Index – Expectations – The index is expected to have remained at a sub-zero level, standing at -2 after the -8 in the December release. Support and Resistance Levels
       

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      Dr Nektarios Michail
      Market Analyst
      HotForex

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    • USDJPY Eyes The 109.88 Resistance Zone And Beyond USDJPY eyes the 109.88 resistance zone beyond as it looks to resume its upside pressure. On the upside, resistance comes in at 110.00 level. A turn above here will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level if the earlier resistance is invalidated out. The next resistance resides at the 111.50. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 109.50 level where a break will target the 109.00 level. Below that level will turn focus to the 108.50 level and then lower the 108.00 level. On the whole, USDJPY faces further upside pressure on corrective recovery.  
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