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  • The US Dollar is moving higher after a blowout NFP report bolstered confidence in the US economic recovery. Markets will now turn attention to next week’s US inflation data which could boost the Greenback. Get your market alert from @FxWestwater here: https://t.co/Ud62r3hKRF https://t.co/dvvDCJvlbP
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/7g9pB8D9xK
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  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/7oqC3ykBbU
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  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here: https://t.co/ezPoAwcJt7 https://t.co/NMfk1cYSvE
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/OiRiBVeuzL
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/03/06/Crude-Oil-Prices-Aiming-Higher-on-OPEC-Surprise-Inflation-Expectations.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CL #Crudeoil #OOTT #OPEC https://t.co/AKvXWX9DLQ
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here: https://t.co/UxZiSulpwB https://t.co/raXvlzkGbV
Top Trading Lessons: Be Confident – Don’t Listen to Noise

Top Trading Lessons: Be Confident – Don’t Listen to Noise

Nick Cawley, Strategist
Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
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A recurring theme this year has been the huge amount of trading advice, commentary, opinion – aka ‘noise’ – around a majority of my trading decisions in 2020. With major FX pairs and commodities drawing strong opinions from a range of people via newsletters, blogs, Twitter, and a host of other social media channels, it is difficult not to double-check yourself before making a trading decision. This noise bubble causes traders to begin to doubt their own ability and analysis, leading to missed trades and opportunities. And, unfortunately, with the spread of social media, this noise is only going to get louder.

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Top Trading Lessons
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Traders need to be fully confident when placing a trade and forget about the surrounding commentary and opinion. And if these commentators are so good, why are they telling you? The best traders in the market will not tell you their ideas or views on any trade as they have no need to be vindicated by the market; they just get on and trade. If you are confident of your analysis – be it technical or fundamental – and confident of your entry, stop and exit levels and you are confident of running that position over your preferred timeframe, then nothing else matters.

Jesse Livermore, one of the greatest traders of all time once said :

‘I trade my own information and follow my own methods’.

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

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