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  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.16% Gold: -0.87% Silver: -1.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/2ZM2rM1kJN
  • Well one $NDX trendline is dead and gone after today's rout and secondary support is coming up quick near 12,760 https://t.co/hJSPch42Zm
  • Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Mar 05, 2021 when Wall Street traded near 31,529.20. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/zeXYkoKVW6
  • Nasdaq extends its selloff as tech stocks slide further due to surging bond yields. Get your #Nasdaq market update from @RichDvorakFX here: https://t.co/eEeeFpFYiF https://t.co/AFfRIHZMgr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.05%, while traders in GBP/USD are at opposite extremes with 67.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dhdLOMU0TX
  • Nasdaq Extends Slide, Bond Yields Spike on Fed Taper Fears -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/12/nasdaq-extends-slide-bond-yields-spike-on-fed-taper-fears.html #StockMarket $NDX $QQQ https://t.co/e08fA8Wy73
  • US Treasury Department: - U.S. ran record $1.9 trillion budget deficit in first 7 months of FY2021 - Federal outlays climbed 22% to $4.1 trillion from Oct. through April - Revenues rose 16%, reflecting 2020 tax deferrals
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.28% Germany 30: -0.28% France 40: -0.34% Wall Street: -1.41% US 500: -1.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PfhSpL5XsO
  • 🇺🇸 Monthly Budget Statement (APR) Actual: $-226B Expected: $-220B Previous: $-660B https://www.dailyfx.com/economic-calendar#2021-05-12
  • We've taken out short-term support on $SPX. Bigger levels below though. For this index, it is 4,000. For the Nasdaq 100, which has a floor more immediately at hand, it is 13,000 https://t.co/KeHxTw81Ht
A Consistent Approach Leads to Consistent Results

A Consistent Approach Leads to Consistent Results

Thomas Long, Course Instructor

The fact may be that the approach is solid, but it is their expectations that are not realistic.  We shouldn’t expect to win every trade.  Some of the best traders in the world win on less than half of their trades.  But they also know that after a series of trades, because of sound money management, they can expect to be profitable.  This is because they are consistent in their approach, so they expect some consistency in their results. 

When developing a new strategy, you have to judge it’s effectiveness through different market conditions.  This means that you have to see how it works when the market is trending up, trending down, in a range bound situation and also when the market seems confused and directionless.  This may mean running through 100 practice trades to get a good feel for the strengths and weaknesses of the approach.  Just because that approach loses three trades in a row does not mean it doesn’t work.  If you and I were flipping a coin where I won on heads and you won on tails, we know that we would each win on about half of the flips.  But if tails came up three times in a row, that does not mean that there is something wrong with the coin, it is just chance.  We would still know that after a series of 100 flips, we would each still have won and lost about half of the flips.  Think of this as you are working on ways to trade the market.  Don’t be too quick to judge that approach on a small number of trades.  Think long-term when judging and then if the results are acceptable, be consistent in taking the trades and your trading results will also start to show some consistency. 

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

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