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  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:https://t.co/2CDNZh2a89 https://t.co/bULXuCaHKk
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average... https://t.co/R9LQAuL2DL
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield https://t.co/uZBzJ7yiXf
What are the Traits of Successful Traders?

What are the Traits of Successful Traders?

David Rodriguez, Head of Product

- We studied 10’s of millions real trades to find meaningful insights on trading

- Patterns are relatively clear: Money management, effective use of leverage, and strategy selection critical

- View full reports below for complete coverage

Our studies on 10’s of millions of real trades showed patterns which we believe highlight the Traits of Successful Traders – what have some traders done to set themselves apart from the rest?

Our key findings can be summarized in three key points and reports

  1. Money management is the single-most important factor in trading. Indeed, we highlight the Number One Mistake Forex Traders Make and how we might address it
  2. The effective use of leverage is a critical part of any strategy – Here we Study Best Practices on the Effective Use of Leverage
  3. Strategy selection matters and especially as it regards knowing how and when to use specific trading techniques – Do the Hours that I Trade Matter?

Though by no means exhaustive, these reports can help give a trader a foundation with which to learn and avoid the most common mistakes committed by traders. Read the above and follow along with future Traits of Successful Traders series reports for more.

The Traits of Successful Traders

Over the past several months, The DailyFX Research team has been closely studying the trading trends retail traders, utilizing real trade data from a major FX broker. We have gone through an enormous number of statistics and anonymized trading records in order to answer one question: “What separates successful traders from unsuccessful traders?”. We have been using this unique resource to distill some of the “best practices” that successful traders follow, such as the best time of day, appropriate use of leverage, the best currency pairs, and more.

Analysis prepared and written by David Rodriguez, Senior Strategist for DailyFX.com

Sign up to David’s e-mail distribution list to receive future e-mail updates on the Traits of Successful Traders series and other reports

Contact and follow David via Twitter: http://twitter.com/DRodriguezFX

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

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