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  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/lM1OIJdjhr
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/6qGEVjDlN6
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here: https://t.co/T7iAD0fbbU https://t.co/xVSG7nKIQG
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/HGWZikGQAa
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/2cQ0JgAfh7
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
You Can't Lose Taking Profits....or Can You?

You Can't Lose Taking Profits....or Can You?

Thomas Long, Course Instructor

A common statement in the trading world is, “Ringing the cash register is not a bad thing”.  This means getting out of a trade when it is showing a profit is a winning strategy.  If that is the case, then how come we see many new traders winning most of their trades and still losing money? 

It is more common than you might think.  The problem of course is money management.  This is what makes professional traders consistently profitable. 

They call it working a trade and it means having the patience and discipline not to take quick profits on a trade as soon as the market starts moving against your position.  We would all love to enter into a trade, have about 60 seconds of anxiety and then just pure joy as the market keeps moving in our direction into big profits without a worry.  Unfortunately, that is not real trading.  Real trading involves planning your trade before you enter and then trading you plan.  We need to think about using at least a 1:2 risk:reward ratio every time we are in a trade.  If we risk 50 pips, we need to look for at least 100 pips in profit.  That way if we win half of our trades, we are profitable. 

Sound easy?  It is probably the most difficult key to successful trading and takes practice and confidence.  But this is what trading is all about.   

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

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