FOREX TRADING STRATEGIES
From my website: Andiamolireforex.com
Both technicals and fundamentals are necessary to maximise consistent gains in trading in the long run. The following were trades I made recently or are opportunities based on fundamentals and sentiment forex trading strategies.The blog will be published by 12:00 am EST at least once a week. Fundamentals are key and deserve more attention by traders despite the effort needed. This will pay off with a greater certitude in entering and exiting the markets when forex trading. I used to watch my trades continually with fear and trepidation. Now I watch them knowing where and why they could move in a certain direction. It takes a while to learn the fundamentals and sentiment but it's well worth it because it works.
On Friday, May 12th the US CPI and core CPI were released. These are an important number for the Fed since they demonstrate a rising or falling inflation. A miss in expectations will have an effect on the price of the US dollar even if the discrepancy is relatively small. Both the CPI and the core came out as misses along with misses in retail sales. With all this in mind, I chose to short the USDJPY and long the EUR/USD. There were no real strong currencies in that session so I decided to hold only for about 10 pips each. Bad idea. I should have known that the lower CPI would have a greater effect since it could lower the odds somewhat of a June rate hike. I knew this but didn't think of it at the moment. Time to get back to the psychology of trading again...
I enjoyed reading the post of yours, @jchiogna! I have never thought about it before! Keep up the great work.
Upvoted & Followed you as well.
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Thanks. Made my day.Please pass it on to others, thanks.
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