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  • USD/JPY continues to pullback from the monthly high (109.79) to largely mirror the recent weakness in longer-dated US Treasury yields. Get your market update from @DavidJSong here:https://t.co/fv1jjcufMX https://t.co/RQrkxYSsG7
  • Gold continues to climb as US real yields maintain their decline $XAUUSD https://t.co/M8GH93UvoL
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.72% Gold: 1.24% Oil - US Crude: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LEuM2UyMpc
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.08%, while traders in Germany 30 are at opposite extremes with 74.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RpXt0c3dDQ
  • US Dollar Index (DXY) steadily trending lower towards yearly low. Feb low up first at 89.68, then 89.20 to follow. Get your $USD market update from @PaulRobinsonFX here:https://t.co/4OvnYANsPE https://t.co/zOWYFvVIdf
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.09% France 40: -0.07% Germany 30: -0.08% Wall Street: -0.41% US 500: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ZUO0U8wkJ9
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.67%, while traders in Germany 30 are at opposite extremes with 75.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SF4w4toKO5
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.67% Oil - US Crude: 1.41% Gold: 1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ngyNW7Dyfh
Trading Lesson of 2015: Stick with the Plan

Trading Lesson of 2015: Stick with the Plan

Walker England, Forex Trading Instructor

“Should I enter the market here?” As an analyst and trading educator for DailyFX I must get asked this question more than any other. The answer is always a straightforward one, and fairly easy for me to tackle. (It should be for you too!) If a potential opportunity meets your trading parameters then I say go for it! If a trade does not meet your expectations, regardless of what your trading friends, media pundits, or anyone else says for that matter I would suggest you pass. Now this answer comes with one small caveat, you must have a trading strategy before you begin trading. Regardless if you trade fundamentals or technicals, this means taking the time and doing your homework before the trading day begins!

Having a trading plan is especially beneficial to technical day traders. When operating on a truncated timetable it often exasperates our decision making process. So as opposed to “winging it”, you now have a set list of parameters to follow ahead of time. This can keep us from making fatal mistakes such as revenge trading, over leveraging, or simply chasing a bad position. Each of these mistakes can be avoided if we take the time to plan ahead of time. The last step in the process is accountability. It of course is one thing to have a plan and another to follow it. I suggest running a statement at least quarterly, and see if you really should have entered into the market. If your trading plan needs adjustments, now is the time to make them and strive to do better and hold yourself accountable in 2016!

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

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