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. See our updated Privacy Policy here.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • 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
DailyFX Analyst Tammy Da Costa on Her Day Trading Career

DailyFX Analyst Tammy Da Costa on Her Day Trading Career

Tammy Da Costa, Markets Writer

Women In Finance

Tammy grew up in Johannesburg, known as the ‘The City of Gold,’ and the financial hub of South Africa. Post-Apartheid reformation shaped her early years, and she has tremendous hope for South Africa’s future.

Some friends have moved abroad to seek their future and she still enjoys debating them on different economic theories. Others have stayed in Johannesburg where they run businesses and mine Bitcoin. All are concerned about this year’s downward trajectory in the ZAR, or the South Africa Rand, which Tammy closely tracks relative to the US dollar.

When did you start trading?

I was studying economics and econometrics at university. A few of my friends and I got involved in the Johannesburg Stock Exchange (JSE) trading challenge, and we ended up doing really well. My interest in trading developed from there.

Which financial assets interest you?

I’ve always preferred trading commodities, like silver. As part of our JSE trading challenge prize, we were allowed to join courses/seminars on trading. This is where my interest in trading silver developed. One professor discussed gold versus silver, and his outlook was silver would become just as valuable as gold. Or, in the future the disparity between the two will get smaller.

Hearing and understanding how much he was involved in market analysis intrigued me. I realized I had so much to learn, and decided this was the career I wanted for the rest of my life.

What is a typical day in trading like for you?

My day starts with exercise to clear my mind of any baggage which could be a hindrance for my trading or for my strategy. What's crucial is staying up to date with the news, seeing what’s happening in the markets – I’ve always got the charts and news on my monitor – and doing my analysis and preparing for what may come. And then the rest of the time is analyzing, adapting my strategy and writing articles on my laptop.

What is your trading style?

I prefer short-term trading like day trading or swing trading. All your positions are closed at the end of the day in day trading. With swing trading, you can keep positions from intraday to about two weeks.

What tools do you use to enhance your trading?

I use technical indicators like Fibonacci, moving averages and the Moving AverageConvergence Divergence (MACD). In day trading, I don’t like using more than three indicators at a time because it gets too busy. I believe fundamental analysis definitely plays a part. I do a lot of research before placing trades, with news resources such as Bloomberg.

How do you master your emotions when trading?

I won’t lie, I haven’t mastered that technique yet. But, I’ve done a lot of research. There are many tools DailyFX offers to understand trading psychology. Most mistakes are made because of emotions, and the lack of discipline arising from it.

Often fear and negative emotions have a greater impact than positive ones. It’s very easy to adjust your stop in the hopes the market is going to come back. To actually be disciplined enough to step back and say “Okay, if my stop gets triggered I must accept the fact I may lose," is much easier said than done.

What's the biggest trading mistake you've made?

I was trading Germany 30I had quite a big order and didn’t put stops or limits on my position. I think Trump sent a tweet or made an announcement and the markets went against me. The more it (the market) dropped, the more I thought “It can’t drop anymore.” So, I started adding onto my position … it didn’t end very well.

In hindsight, I learned a lot. You can’t afford to be complacent in this industry, or to be under the impression that you know everything, otherwise you’re going to fall short very quickly. I needed to wipe out my account and experience that pain – which hurt for quite a while, it still does – because I believe that’s how you learn.

Are there differences between female and male traders?

I was under the impression women are more conservative, with men being the bigger risk-takers. Over time I’ve realized it hasn’t got anything to do with gender. Women can be risk-takers, men can be conservative. I think it has more to do with your individual personality, and your preferred style than it does your gender.

Which women leaders in finance do you follow?

The recent leaders and traders who have influenced me in some shape or form are:

  • Christine Lagarde
  • Kathy Lien
  • Jennifer Fan
  • Lauren Simmons
  • Kamala Harris

Although there is progress being made to bridge the gender inequality gap, these women played a critical role in changing the perception of women in finance. They have triumphed over adversity and discrimination, playing a critical role in revolutionizing the financial sector.

Learn more about Tammy Da Costa and her work at DailyFX.

(This interview has been edited and condensed.)

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

DISCLOSURES