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  • No follow through on the Nasdaq's and S&P 500's record high close yesterday. Not surprising with the FOMC on the forward looking threat radar. Meanwhile, the Dow is listing dangerously like a boat taking on water. Will the Fed save or sink? https://t.co/GIkChQdOKZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.11%, while traders in France 40 are at opposite extremes with 79.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K4d2XxyGdx
  • WTI enjoying another strong session, up over 1% on the day and currently trading just below $72/bbl #Oil $CL_F #WTI https://t.co/UGf668BEt4
  • IG client sentiment data are sending bullish signals for both USD/CHF and EUR/CHF, suggesting a weaker Swiss Franc all around. Get your market update from @MartinSEssex here:https://t.co/2DJ7HuVnRP https://t.co/4xaNF4FjXN
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.25% Gold: -0.62% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WsLmJFTVct
  • $DXY $USD | US Dollar Index little changed after tagging its negatively sloped 50-day simple moving average earlier in the session as markets get positioned for FOMC event risk tomorrow. https://t.co/d7DE8WF0ZI
  • 🇷🇺 GDP Growth Rate YoY Final (Q1) Actual: -0.7% Expected: -1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.02% France 40: -0.02% Germany 30: -0.06% US 500: -0.34% Wall Street: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SalQF25bMw
  • Heads Up:🇷🇺 GDP Growth Rate YoY Final (Q1) due at 16:00 GMT (15min) Expected: -1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-06-15
  • USD/JPY trades to a fresh weekly high (110.17) as longer-dated US Treasury yields recover ahead of the Federal Reserve interest rate decision. Get your $USDJPY market update from @DavidJSong here:https://t.co/9iWCr5sxZS https://t.co/RDUNS9V0Vn
Keep Your Expectations Realistic

Keep Your Expectations Realistic

Thomas Long, Course Instructor

While it is important to establish goals in any endeavor, any benchmarks should be geared around your improvement as a trader and not about what you expect the market to give you.  I have seen many new traders who while looking for at least 20 pips a day, end up losing big in an effort to reach this target.  The problem is that the market environment changes to the point where there are many days when solid trading opportunities just cannot be found.  So the new trader puts on a trade that they normally would not even think about.  If that trade becomes a loser, they now have to win that loss back and then another 20 pips before the end of the day.  You can see how this can turn into a nightmare after a couple of questionable setups end up as losing trades in the same day.  I think a better goal is to strive to be profitable every month.  If you end up with $1 more in your account at the end of the month from the beginning of the month, give yourself a pat on the back for being profitable.  It is a series of monthly gains that can result in big returns.  But you must treat trading as a business instead of a get rich quick scheme and keep your expectations realistic.  Take what the market is willing to give you instead of looking for what you think you need and you increase your chance of success.    

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

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