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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.10% Gold: -0.38% Silver: -0.81% View the performance of all markets via
  • RT @tracyalloway: Yields on the junkiest of junk bonds (CCC-rated) hit another all-time low, coming in at just 5.66%.…
  • RT @FxWestwater: Euro Technical Forecast: $EURUSD, $EURAUD, $EURJPY Charts to Watch Link:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.08% 🇪🇺EUR: -0.10% 🇨🇭CHF: -0.13% 🇯🇵JPY: -0.20% 🇳🇿NZD: -0.31% 🇦🇺AUD: -0.32% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.21%, while traders in GBP/USD are at opposite extremes with 68.58%. See the summary chart below and full details and charts on DailyFX:
  • 🇦🇺 Building Permits MoM Final (MAR) Actual: 17.4% Expected: 17.4% Previous: 20.1%
  • Biden EPA expands fuel waivers to blunt gas shortages - BBG #OOTT $CL_F
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower.
  • USD/Yuan reference rate set to 6.4258 - BBG $USDCNH
Guest Commentary: Making Plans for the Year

Guest Commentary: Making Plans for the Year

Yohay Elam, Forex Crunch,

Did you make any forex related New Year's Resolutions? If so, was it simply "make money in forex" or something a bit more detailed than that?

2012 already began but it's definitely not too late to make some plans for the New Year.

Getting into details means setting monthly goals. This should not be limited to the amount of money you make every month, but should also consist of other goals.

But before discussing such monthly checkups, the bigger question is: What do you want to achieve in forex trading? Do you want an occasional extra income? Do you want to make some money for a vacation? Do you want to become a pro?

A more definitive goal for 2012 can then help you break down the resolution into quarterly or preferably monthly milestones - points where you check up on your performance in various fields and move on from there.

  • Number of monthly trades: In order to stay on track you can define a range of monthly trades. Going below this range means you've neglected forex trading. Going above the range is worse: it means that you got addicted. Checking the number of trades on a monthly basis can certainly keep you balanced.
  • Position sizes: A more detailed resolution can be to stick to position sizes for the month, and change the sizes only once per month / once per quarter. This will help you stay balanced and also provide guidance for moving forward: if you had success for several months, perhaps you can increase position sizes.
  • Money management: You can include a checkup on your money management behavior, current state of the account and similar issues on a monthly basis.
  • Trade plan: The same goes rules work for the trade plan. Every plan needs occasional tweaking and some need to be totally replaced. One or two trades aren't enough. This is probably something you already do, but it's worth mentioning and emphasizing that one or two trades aren't enough to make a judgment.

Do you have a plan for 2012?

Further reading: 5 Most Predictable Currency Pairs – Q1 2012

By Yohay Elam, Forex Crunch

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to

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