Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TheNegotiator

Considerations for a Wannabe Trader...

Recommended Posts

Hi All,

 

As a trading beginner, I started using spreadbetguru.com copied the trades the guru was placing and looked at the chart to see if I could see what i was doing...it was tricky at first because you have to be ready to place the trade when you are told to....but ive gotten the

hang of it and i can see what the guru is doing in where he is placing his trades with stoploss profit target etc...what i would say is that you do lose...but end up making money daily. Spreadbetguru I would say is a decent site that helps show you where a trader is placing trades which you will be able to pick up on when looking at charts.

 

Apart from this, I think I will stick with trading Dow Jones, too scared to try any other market now.

 

The problem with this is that everyone has a different take and personality so it won't be suitable for all.

Share this post


Link to post
Share on other sites

I guess what you say is true...but just one question...if a trading master who made trades everyday and was in profit everyday would it be something to look at or not? seeing that

even when we trade using our own judgement we lost 50% of the time and win 50% of the time...to me its a no brainer and Im not going to stop using the subscription...to me spreadbetguru.com is worth every penny...but I know not everyone will be able to stomache copying someone elses trades...even if they are profitable trades...thats why they say only 10% of traders make it through.

Share this post


Link to post
Share on other sites

Hi everyone

I'm very new to the trading thing, but everyday it gets more and more interesting and scary too.... when you go deeper and deeper in the subject...you realize how much opportunity and risk is there

 

I have many different questions. Some of the most basic and perhaps stupid questions are about selecting a broker and working with a broker company:

1. What are the 2-3 main features of a good/trustworthy broker?

2. What is their true role, apart from giving access to the trading platform, e.g. are they consulting on trades, should they provide any form of support, educate newcomers or something?

3. If some trader ( client of a broker) earns really big profit from a trade, does broker company looses their money because of that or such profit comes only from losses of other traders/clients?

4. Why broker is so keen on me to increase or re-fill the account, always asking to input more and more money into account? I sometimes get a feeling that broker benefits somehow on clients who loose/destroy their accounts. Is that possible or is it just an ill imagination :)))?

 

thanks for your insights

Share this post


Link to post
Share on other sites

I'm a beginner and am trying to decide what trading tools I should use. I'm interested in trading gold, crude oil, and natural gas to start with. Do you have any recommendations? So far I was thinking about using MACD and valuecharts. Thanks for the help

Share this post


Link to post
Share on other sites
I'm a beginner and am trying to decide what trading tools I should use. I'm interested in trading gold, crude oil, and natural gas to start with. Do you have any recommendations? So far I was thinking about using MACD and valuecharts. Thanks for the help

 

My main observations: Gold and Crude Oils are opposite instruments of USD. If USD gets stronger (people sell other stuff and buy USD) than normally Gold and Oil start to fall/ get down.

Another thing is - do not expect to earn quick money on Gold and Oil, these are subject to a long-terms trends,especially Oil. Look and their trends or patterns in Day and Week timeframes in order to figure out your position. The bigger account you have the better, because prices ( hourly, daily) can be quite volatile and you must have enogh fund to sustain your positions. If you place too small stops and take profits - it won't work that way on Gold and Oil. Ultimately Gold is a buy on a very long term basis (monthly) but Oil is very tricky.

Also Oil is very political too, subject to rumors, bad or good expectations, political risk, and bad or good economical results of countires like China and US.

If you can - trade with Demo for several months at least to have a feeling and only after trade with real money. otherwise, this is very risky for the beginner if you do not have a trusted adviser/experienced trader who will coach you.

Share this post


Link to post
Share on other sites
I'm a beginner and am trying to decide what trading tools I should use. I'm interested in trading gold, crude oil, and natural gas to start with. Do you have any recommendations? So far I was thinking about using MACD and valuecharts. Thanks for the help

 

-decide what time frame would you like to use

-create a system with a proper risk/money management

-practice and master your system

-while practicing, prepare yourself for unexpected movement. make sure you have a plan before you click buy-sell button

Share this post


Link to post
Share on other sites

Hi,

 

Excellent summary for a newbie trader to consider. Im trading almost 15 years but only about 3 could be considered real trading, the rest was simply adding to a position I was going to hold for a long time and holding it for the day if I saw it was overextended or saw a doji after 5 increasing size bars in a row. Just simple workable stuff. The sad part was when I decided I cant do it part time anymore, I was on unemployment and decided to let it run out and just keep learning and start trading as soon as I could trade 3 months in a row profitably. I think that is the minimum any new trader should do before going live.Sadly I joined the Oliver Velez prop trading room where they teach you to daytrade off a 2 and 5 min chart individual stocks and supposedly give you huge leverage to trade with only like 10 cent commissions. We all believed it because Oliver was a best selling author. The company went out of business 1 year later and thank God I learned a little something before he went under.

 

As far as your goal of making $5000 a day on a 100k account, I think you would have some of the guys in Market wizards calling you up if you could do that. I would say maybe....only maybe...the best traders in the world can get that kind of return.I'd be stunned if you did that per week! I would say a more realistic return,especially at the beginning years of your "pro career" would be $500 a day. And think weekly. Thats $2500 a week x 50 is 125k a year! Thats more than doubling your money every year. If you wouldn't be happy with that, I think you are going to overtrade and make some big mistakes and end up making nothing. Just my opinion from watching 500+, other traders in a chat room with me trade alongside for a year.

 

I also am wondering why you would pick the ES contract as your only contract to make money. It is the one place to find the most pros; banks, Who even knows if the Fed(Plunge protection team) or what others are in that instrument. It doesnt move that much which I s why I think all the small guys get eaten alive in there because only guys who can put on 10 contracts or more at a time can make the kind of money you talk about. Why not crude oil or Metals? Will your system work on all markets? Also what time frame may I ask are you trading on and how many trades per day or week do you take?

 

best of luck.

Vince

 

 

1-Why.

I want to trade as a career. It did not start out that way. Originally, I just wanted to manage my own retirement account. I came out of the manufacturing and construction industries. I don't want to go back into either industry, and I don't see any way I can get work in either industry. I'm looking for a way of life and a career. I don't feel that the U.S. economy has anything to offer me. I don't feel like I have any other good options. I caution anyone wanting to go into trading as a profession. I don't have a family to support, or any real expenses, so that has been critical to my being able to put the time in to learn trading.

 

 

2-Commitment.

I have committed a little over 3 years now. Probably 2 to 2 1/2 years full time, every day.

 

3-Timeframe and method.

I guess I'd call myself a swingtrade scalper. I hate trend lines, and do not use them. I wasted a lot of time on trend lines. I only use price levels, support and resistance on my price chart. Then I use mostly the Advancers / Decliners for the general trend direction. I do not use multi-time frame charts. I only use a one minute chart. For me, something like a 133 Tick chart is just information overload, and takes my focus off the longer trend. I will be making up to hundreds of trades a day.

 

4-Account/investment size.

I expect to eventually make $800 to $1000 dollars a day. If I had a $100,000 account, I'd want to make $5,000 dollars a day. I've gone through about $25,000 dollars of expenses for bare bones living, and I have no rent, mortgage, heat or food expenses. Right now I have $10,000 in a trading account.

 

5-Money management.

I have a reasonable trading method that I have proven will make money. But it's taken over 3 years to get to this point. I've made all the typical mistakes that traders make. Let my losses run, take profit to early, etc.

 

6-Product.

All I trade is the ES e-mini futures contracts. Originally I looked at stocks. I consider stocks to be to much of a hassle, to much research, to difficult. I don't see any reason to trade anything else. My focus is to totally master what I do to an extremely profession level.

 

7-Broker.

I've only used a couple of brokers. This is an interesting topic. It takes a lot of time to get set up with a broker, and learn their platform. Just that alone could take months. It's a chore to determine what broker you want to use.

 

8-Platform.

By chance, I choose a broker that has very good charting. I believe that this is critical. After all, it's all about reading the chart. If you can't do that, then what's the point? Make sure that whatever platform you are using, you can navigate the charts without getting confused.

 

9-News source.

I looked into buying a subscription to a news service, but the expense was way more than I wanted to spend. I'm glad I didn't spend any money on it. News is very important, but trying to react instantly to the news is a game I would never try to play. I did go down that road of looking a earnings reports for about 6 months, and then decided that it's way to difficult, and I'm glad that I gave up on it. Don't get me wrong, I always check when the news releases are and make sure that I'm not trading when it comes out. Then I take a look at what the news is. I put a lot of time into figuring out how to interpret the news. That's an art form. But I don't trade the news, I trade the market internals and support/resistance.

 

 

10-Computer.

I've gone through 3 computers. One custom built myself. (Nightmare, that I don't recommend. But I'd probably do it again.) I like my laptop with an external screen attached. As with any product, the high end products are sometimes worse than the mid range quality. I bought a high end gaming laptop that I had to return twice, and then bought something else.

 

11-Internet Connection.

I live in a rural area and started with a local wireless company. It wasn't really good enough for trading. Luckily, during my learning phase, a cable company installed high speed on my road. I have a back up wireless connection through my cell phone company.

Share this post


Link to post
Share on other sites

Vince I think the draw of the ES or other minis is that you can learn to trade on a small account without being crippled by one bad trade. Yes, you could hold a couple of ES 20 points offside with only $3k starting balance or something but that is well within your control most of the time. Metals and energies on the other hand can have thunderous moves for the under capitalised. I agree that ES can be tough but then there's always NQ,YM,TF to trade.:2c:

Share this post


Link to post
Share on other sites
Vince I think the draw of the ES or other minis is that you can learn to trade on a small account without being crippled by one bad trade. Yes, you could hold a couple of ES 20 points offside with only $3k starting balance or something but that is well within your control most of the time. Metals and energies on the other hand can have thunderous moves for the under capitalised. I agree that ES can be tough but then there's always NQ,YM,TF to trade.:2c:

 

Absolutely. The ES is good to start out with and get comfortable trading futures. And yes,yes,yes about oil. I cant even do it now. It makes me too stressed. Gold and silver are slower than oil but faster than Forex. I like that mix.

 

Do you use Fibonnacci or Harmonic patterns in making trading decisions? What one thing is the biggest factor in your trading decision?

Share this post


Link to post
Share on other sites
Do you use Fibonnacci or Harmonic patterns in making trading decisions? What one thing is the biggest factor in your trading decision?

 

Fibonacci yes in certain cases. As a guide of IB expansion capability and after a strong move. Also look at the halfgap and session midpoint (amongst others) although clearly this is not really Fib. Harmonic patterns are not something I consciously look at although I subconsciously follow how the back and forth drives the market.

 

The biggest factor I would say is context of market activity. Take a look at the e-mini thread in my sig for more and ask any questions! Just because it's about the e-minis it shouldn't scare you off. The premise is commutable to any market.

Share this post


Link to post
Share on other sites
Fibonacci yes in certain cases. As a guide of IB expansion capability and after a strong move. Also look at the halfgap and session midpoint (amongst others) although clearly this is not really Fib. Harmonic patterns are not something I consciously look at although I subconsciously follow how the back and forth drives the market.

 

The biggest factor I would say is context of market activity. Take a look at the e-mini thread in my sig for more and ask any questions! Just because it's about the e-minis it shouldn't scare you off. The premise is commutable to any market.

 

I agree 100% neg. I just want patterns that are the easiest to identify. Isnt that what ultimately we all want? So if I am a gold and forex trader and you and some other guys start buzzing about how the ES IS NOW GIVING BACK ALL THE GAINS ON A GAP UP 85% of the time for the last month and if that happens then another thing happens 15 min before the close, you bet I will become very very interested in ES. In fact in hindsight, with this 3 yr bull run, Id love to backtest how a trader would have made put fading every gap down on the ES for last 3 yrs. Someone actually told me that except for mon and friday, it usually works. This comes from a website called masterthegap where all this guy does is play gaps on the ES. You might want to check it out. I think his basic newsletter is free.

Share this post


Link to post
Share on other sites

1-Why.

I want to find patterns in noise. I want to feel the will of thousands at the same time. I want something to work at, and learn, and gain skill in. I want to experience something that's both an art and a science. And of course, I want to make money.

 

2-Commitment.

I can commit several hours a day, four from morning to afternoon and more in the evening when CME reopens.

 

3-Timeframe and method.

I know that I'd like to trade intraday, but I don't know exactly which frame yet. I'm trying them all out and seeing which works best for me.

 

4-Account/investment size.

When I start trading live I'll have $2500 for an initial margin. If it ever drops below $1900 I'll stop trading until I can replenish it with my day job.

 

5-Money management.

I'll trade with either 20% or 40% of my principal, depending on how confident I am in the entry. My position sizes will only increase if I make enough money.

 

6-Product.

I'm beginning with futures since they have the lowest margins.

 

7-Broker.

I've chosen a broker that's known for low margins, speed, and reliability. Their commissions are slightly higher than discounts, but you get what you pay for.

 

8-Platform.

I've found a futures platform that has everything I need and is supported by my broker.

 

9-News source.

I don't intend to use news, unless I can find some RSS feed that will warn me of catastrophes.

 

10-Computer.

My PC runs my platform fine.

 

11-Internet Connection.

I have a (mostly) reliable broadband internet connection.

Share this post


Link to post
Share on other sites
1-Why.

I want to find patterns in noise. I want to feel the will of thousands at the same time. I want something to work at, and learn, and gain skill in. I want to experience something that's both an art and a science. And of course, I want to make money.

 

2-Commitment.

I can commit several hours a day, four from morning to afternoon and more in the evening when CME reopens.

 

3-Timeframe and method.

I know that I'd like to trade intraday, but I don't know exactly which frame yet. I'm trying them all out and seeing which works best for me.

 

4-Account/investment size.

When I start trading live I'll have $2500 for an initial margin. If it ever drops below $1900 I'll stop trading until I can replenish it with my day job.

 

5-Money management.

I'll trade with either 20% or 40% of my principal, depending on how confident I am in the entry. My position sizes will only increase if I make enough money.

 

6-Product.

I'm beginning with futures since they have the lowest margins.

 

7-Broker.

I've chosen a broker that's known for low margins, speed, and reliability. Their commissions are slightly higher than discounts, but you get what you pay for.

 

8-Platform.

I've found a futures platform that has everything I need and is supported by my broker.

 

9-News source.

I don't intend to use news, unless I can find some RSS feed that will warn me of catastrophes.

 

10-Computer.

My PC runs my platform fine.

 

11-Internet Connection.

I have a (mostly) reliable broadband internet connection.

 

As much as it seems like it could be possible to build up from a $2.5k account, the very reason you have chosen to trade futures puts the account at risk. I suggest you learn the markets for a reasonable period before even attempting to trade, then trade simulated whilst building up more capital. That way, when you do have more capital you will be better place to use it well.

Share this post


Link to post
Share on other sites

I agree negotiator. If one has only 2500 to put into a futures acct, save $1500, put 1000 into a forex acct and you can trade micro lots which are increments of 10 cents! That means on 15 min bars you can have a 20-30 pip stop and only lose 2 or 3 dollars when starting out!!!! I promise anyone here, youll feel just as happy winning $3 on a 30 pip win, than winning $100 on a futures trade. know why? No stress! And you know that whenever your ready yopu can go to 2 then 3 then 4 then 10 micro lots at 10 cents each. you control how much you put in. A good suggestion for people like myself who are fibonacci players is to go in with 3 contracts, that will be 30 cents eacxh tick, and peel one off at target one, peel one off at target 2 and another________???????(whenever you want!) so a 30 pip trade costs you at most 9 dollars!!!! and youll have a lot of fun. $2500 ISNT MUCH FOR FUTURES ESPECIALLY IF YOU have a system that requires more than 1 lot or 1 contract to be used at one time.

 

good luck.

Share this post


Link to post
Share on other sites

Well, I'm not going to do any live trading until I can consistently profit in simulated trading with the same margins and commissions I'd be using live. So that 2.5k may never get touched at all. :embarassed:

 

And yeah, at this point I'm not even doing that much sim-trading. I'm just backtracing all the historical data I have like watching a movie, and devouring any reading materials and theory I can find.

Share this post


Link to post
Share on other sites
Well, I'm not going to do any live trading until I can consistently profit in simulated trading with the same margins and commissions I'd be using live. So that 2.5k may never get touched at all. :embarassed:

 

And yeah, at this point I'm not even doing that much sim-trading. I'm just backtracing all the historical data I have like watching a movie, and devouring any reading materials and theory I can find.

 

That is also my philosophy. Cheers

Share this post


Link to post
Share on other sites
That is also my philosophy. Cheers

 

Don't forget the slippage! If you system can hand the fact that your $100 position is really $100.10 when it fills and sells at $99.90.... Then it might work.

 

Paper trades never show you the bad fill...

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By millonmethod
      Hello everyone!
      I am an advanced trader, with many years of experience (about 15 years - 10 living exclusively from this)
      I am going to give you some tips that you must know:
      There are going to be many people who tell you that trade is easy, that with only crossiing a line  with another one you will win a lot of money.... and that´s not true.  No, Sir, reality is far away from that. Many people who start arrive here with the hope that someone "gives them" a free method, they watch youtube videos thinking that this will give them the "strategy" and in a few days they realize that it does not work for them - they lose money - and then They go looking for a new one ... and so on. YES, IT´S TRUE YOU EARN IN TRADING, A LOT. BUT THINK: for a few to win (10% + any BROKER) many others must lose (90% people). YOU MUST HAVE A MONEY MANAGMENT FORMULA ( you can email me) People study so many years to live on this, not because they are dumb, but to know what they do, when, and have absolute effectiveness. It´s very easy to get lost here: do not disperse, jumping from one to another strategy WILL NEVER give you money, it will only waste your time and make you nervous when trading. PEOPLE WHO CHANGE THEIR METHOD CONSTANTLY : LOOOOSE ALWAYS.   If you have the knowledge to develop it, take your time and do it.  Always try it first on DEMO for at least 2 weeks! If not: search to buy a solid strategy (no you tube videos pleassse ! Avoid losing money! ) This is like any business, it requires some capital to start (capital = money in the broker + solid made /purchased strategy) If you are lost: I RECOMMEND YOU NOT TO WASTE TIME IN YOUTUBE, JOIN PEOPLE WHO HAVE EXPERIENCE AND IF YOU ARE GOING TO BUY A METHOD ... PLEASE !!!! DO NOT BUY 10 BAD AND CHEAP METHODS, SAVE MONEY AND BUY ONLY 1 BUT EXCLUSIVE AND MUST ALLWAYS HAVE SUPPORT !!!!!  Do not buy Signals! They never keep up with constant profits! One week will win and the next will lose. Nothing that does not depend absolutely on you will give you the money you are looking for. And if you do not have a strategy (made or purchased) do not even try PLEASE PLEASE PLEASE: DO NOT USE REAL MONEY! AT LEAST 2 WEEK DEMO FREE HELP HERE!!!!!  IF YOU FOLLOW MY ADVICE YOU WILL BE PART OF THAT 10% WINNER, email me.
      Have a nice trading day
       
       
    • By RedJoker81
      Hello, I wish to get into trading(maybe day trading).  But my question is what should I focus on learning, stocks(btw I know about the $25000 limit but I don't know if I am going trade that many times a week) or Forex, atm I plan to start with 500-1000$. My background would be that I have taken an economics class in which one part was stocking as we had to play a stock market game for around 3 months. Also if you are wondering I don't plan to start real trading for at least a few months(I Plan to practice with demo accounts first and find a profitable strategy first). Thanks for the help! 
    • By trading4life
      Hello, My name is trading4life.
      I just joined this forum.
  • Topics

  • Posts

    • Date : 26th October 2021. Market Update – October 26 – Bonds and stocks rallied to start the week. USD (USDIndex 93.89) – first rate hike was pushed up to June, with two quarter point tightenings priced in for 2022. Wall Street firmed too on the back of strong earnings with more new record highs on the USA500 and the USA30. Also underpinning sentiment are expectations that the fiscal package will make it out of Congress. Fed Chair Powell warned that inflation could be higher and more persistent than previously expected. US Yields – 10yr backed up 0.9 bp overnight to 1.64%. Equities mixed – USA100 paced the advances though, climbing 0.9% amid support from the slip in yields – 4582. USA100 bounced to 15602. Facebook reported mixed third quarter earnings on Monday, slightly missing revenue estimates but continuing to grow its user base. FB +2%. TSLA (+12.6%) joins the$1 trillion market cap group after 11 yrs – took AMZN 22 yrs. It’s bigger than the combined value of the next 9 biggest car makers but it sells less than 1% of world car sales. Elon Mush added $36BN to his net wealth yesterday alone. UBS beats on revenue – but sales are mixed. USOil holds up again on supply concerns & trades close to 7-year highs at $82.50. Gold spiked at $1808. FX markets – EURUSD 1.1600, Cable bounced 1.3778, USDJPY – reversed from 113.97 highs to PP at 113.86. European Open The December 10-year Bund future is down -20 ticks at 168.45, underperforming versus US futures, although in cash markets the US 10-year rate is down from overnight highs, but still up 0.4 bp at 1.63%, as a 0.5% gain in the USA100 is leading US stock futures higher. GER30 and UK100 are posting gains of 0.2% and 0.1% at the moment, after a somewhat mixed session across Asia. Today – Upcoming central bank decisions will remain in focus, with ECB and BoJ set to announce their decisions on Thursday. Earnings: Microsoft, Alphabet, Visa, Eli Lilly, Novartis, Twitter, General electric, UBS, Robinhood. Today’s economic calendar will be of interest as well, and features October consumer confidence and September new home sales. Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.28%) Reversed overnight gains from 81.88 high tp currently 81.50 area. Faster MAs, RSI & Stochastic turned lower, while in contrast MACD signal line & histogram keep rising, implying to a potential limited pullback. 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. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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.
    • Date : 25th October 2021. Market Update – October 25 – Big Earnings Week Ahead, USD Cooler. USD (USDIndex 93.50) cools a tad & again tests 4-wk low (93.44). PMIs biased to the upside as Powell talked taper but no rate rises yet, Democrats narrowed their differences on the $3.5b infra bill & Yellen talked new taxes. Yields hold up, Equities mixed Friday, FUTS down. Big week for Earnings – Oil up again on supply concerns, gold back to $1800. Evergrande – Restarted 10 building projects over weekend, announced move away from real estate towards EV production. US Yields (10yr closed higher at 1.665) & – now 1.6500% Equities mixed – USA500 -4.88 (-0.11%) at 4544 (NASDAQ –0.82%) – Big movers – SNAP -26.59% & INTEL -11.68%; Big Earnings misses, FB -5.05%, GOOGL & AMZN –3%, TSLA +1.75% – USA500.F back to 4540. Asian equities weaker. USOil up again on supply concerns & trades close to 7-year highs at $83.00 Gold very volatile Friday ($1782-$1813-$1793 on close) Back to pivot at $1800 now. FX markets – EURUSD 1.1650, Cable 1.3770, & USDJPY – (after a strong day on Friday (113.40 low) now at 113.60. Week Ahead Earnings from 5 x tech giants (FB today), plus major European Banks. Policy meetings from the ECB, BoJ & BOC, economic data includes US Q3 GDP & PCE. Plenty of CB speak, the UK Budget and month end too. European Open December 10-yr Bund future up 23 ticks at 168.51. DAX & FTSE 100 futures up 0.15% & 0.25% respectively. Inflation risks remained in focus as oil prices continue to climb higher while bottlenecks in supply chains lead to rising cost pressures. The combination already weighed on manufacturing PMIs last week & are likely to also depress the German Ifo confidence reading today ahead of Thursday’s ECB meeting. Fed Chair Powell signalled on Friday that inflation could stay higher for longer & that the taper is coming. ECB by contrast has pushed decisions on PEPP & APP back to the December meeting, which means this week’s ECB will be watched mainly for signals from Lagarde at the press conference. TToday – German IFO and BoE’s Tenreyro. Earnings: Michelin, Facebook, Restaurant Brands. HSBC surprises with 74% rise in Q3 profit and $2bln buyback. Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.45%) Recovering from a strong day run fro JPY last week. Up from 84.50 tlow on Friday to test 85.00 now. Faster MAs aligned higher, MACD signal line & histogram rising, RSI 51 & neutral. H1 ATR 0.189, Daily ATR 0.817. 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. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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.
    • Date : 21st October 2021. Market Update – October 21 – Stocks & USD slip on big Earnings Day. USD (USDIndex 93.55) cools a tad and again tests 2-week low (93.47) Yields stronger again, Equities closed up, but FUTS are down (Nikkei -2% on stronger YEN and Yuan). Big day for Earnings – TESLA beat but revenue numbers disappointed some. Oil up on drawdown. Evergrande – Bad News $1.7bn sale of 51% of HK unit to Hopson OFF, $1.7bn sale of HK HQ OFF, $83.5m coupon default triggers tomorrow. Good News $260m bond coupon, extended by 3 mths US Yields (10yr closed higher at 1.63) & – now 1.6533% Equities moved ground higher USA500 +16 (+0.74%) at 4536 (NASDAQ –0.05%) – Big movers – Verizon +2.41% & ABBT +3.3% (PayPal – 4.91%) – USA500.F back to 4500. Asian equities weaker. New VIX contract at +1.49% at 19.60 USOil up on drawdown n strong demand at $82.00 after EIA inventories showed -400K vs build of 2.1m Gold holds at 4-day highs – $1785 FX markets – a recovering USD – EURUSD 1.1646, Cable down from 1.3830+ to 1.3800, & USDJPY – off 4-year highs and pivots at 114.00. European Open The December 10-year Bund future is down -16 ticks, US futures are also in the red. DAX and FTSE 100 futures are both down -0.45 and US futures are also in the red, with the NASDAQ underperforming again, after already closing slightly lower yesterday. Indices remain at high levels, but tapering concerns, the global energy rout and supply chain concerns are capping the outlook for global growth. Markets will continue to watch earnings reports and central bank comments, especially in the UK where officials clearly are laying the ground for an early lift off. Meanwhile the announcement of Weidmann’s departure has raised hopes that the ECB will push even more to circumvent the no-bailout clause permanently – after the end of PEPP, which already helped BTPs to outperform yesterday. Today – US Initial Jobless Claims, Philadelphia Fed Business Index, Existing Home Sales, EZ Consumer Confidence, EU Council Meeting, Fed’s Daly, Waller, RBA’s Lowe, Earnings: AT&T, Intel, American Airlines, Southwest Airlines, ABB, (bottleneck problems) Vivendi, Hermes, (beat) Pernod Ricard,(beat) Barclays, (Revenue big beat) Unilever (Sales miss). Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.50%) Rejection of 86.25 this morning as Yen lifts after a very weak October. Faster MAs aligned lower, MACD signal line dips and & histogram slips significantly lower, RSI 40.00 off OS level, H1 ATR 0.189, Daily ATR 0.817. 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. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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.
    • Meet a maverick on Blockster   Blockster is a cryptocurrency social platform.   Blockster connects everyone within the blockchain industry into one place—all the cryptocurrencies, the teams behind the projects, as well as, the traders and investors. Communicate and network with the very core of the blockchain industry, and stay ahead of the market trends via Blockster.   Get insightful posts, reviews, breaking news, interesting comments, and latest updates from the world of cryptos, from Azeez Mustapha: https://blockster.com/AzeezMustapha46102 
    • Nice article send in here, do sharing other such articles and also share your experience of Forex Trading.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.