News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAR) due at 01:30 GMT (15min) Actual: 0.38% Previous: 0.16% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Nasdaq 100 Outlook and Netflix Earnings Miss May Cast a Shadow on Hang Seng and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/04/21/Nasdaq-100-Outlook-and-Netflix-Earnings-Miss-May-Cast-a-Shadow-on-Hang-Seng-and-ASX-200-.html https://t.co/6FEItZRKwD
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAR) due at 01:30 GMT (15min) Actual: 0.38% Previous: 0.17% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇦🇺 Retail Sales MoM Prel (MAR) due at 01:30 GMT (15min) Expected: 1% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-04-21
  • The US Dollar is looking increasingly vulnerable to ASEAN FX, with USD/SGD and USD/THB breaching key support. USD/IDR is eyeing a Rising Wedge, USD/PHP may face February lows. Get your market update from @ddubrovskyFX here:https://t.co/7rSQzu0sx9 https://t.co/rlQpQDURMm
  • The Australian Dollar’s losses against its major counterparts may prove short-lived, as a series of bullish technical setups begin to take shape on multiple AUD crosses. Get your $AUD market update from @DanielGMoss here:https://t.co/kRtix2AW32 https://t.co/giuKDqh1Zi
  • Wall Street Futures Update: Dow Jones (+0.01%) S&P 500 (-0.06%) Nasdaq 100 (-0.3%) -BBG
  • A late-season cold snap in the United States is driving natural gas prices higher this week but will it last? Find out from @FxWestwater here:https://t.co/yMOBLPcSFU https://t.co/aa0s2x0Kce
  • 7 out of 11 S&P 500 sectors ended lower, with 63% of the index’s constituents closing in the red. Energy (-2.66%), financials (-1.81%) and consumer discretionary (-1.22%) underperformed, while defensive-linked utilities (+1.32%) and real estate (+1.12%) outperformed. https://t.co/OkTMeRjfjH
  • 🇳🇿 Inflation Rate QoQ (Q1) Actual: 0.8% Expected: 0.7% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-20
Leverage Can Be Your Best Friend and Your Worst Enemy!

Leverage Can Be Your Best Friend and Your Worst Enemy!

Thomas Long, Course Instructor

He had a standard account with a balance of $2000 and sold 10 lots of a currency pair where the value of each pip in each lot was $1.  The market had moved against him by about 35 pips and he wanted to know if I thought the market was going to come back.  Before I had a chance to answer the email, the trader received a margin call and was automatically closed out of the position.  He was a little upset about losing $400 on just one trade and thought that maybe he wasn’t cut out for trading.  He asked if he sent me the details of the trade, would I offer comments on what went wrong.  But I didn’t need any more details because I already identified his biggest mistake.  He was using too much leverage, which may be the biggest mistake new traders make.  There is only one guarantee in the business of trading and that is if you trade, you will have losing trades.  How you manage those losing trades will have more to do with your success or failure as a trader than perhaps any other factor.  We recommend risking no more than 5% of your account balance at any one time.  So if trading with a 50 pip risk, this new trader should have only opened two standard lots instead of 10.  Then his loss would have been $100 instead of $400 on the margin call and he would still in a frame of mind to find another trade instead of wondering if trying to trade was a mistake.  His mistake was in thinking about how much he could make when he should have been thinking about how much he could lose.  This is the main difference between a new trader and a professional trader and needs to be part of your thought process on every trade.  Keep your risk small, only trade the solid setups and let the profits take care of themself.  This is how the experienced traders approach the market and should be how you approach the market too.  

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES