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  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/wyhhb4Jqxa
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  • 🇯🇵 Industrial Production YoY Prel (JUN) Actual: 22.6% Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Retail Sales YoY (JUN) Actual: 0.1% Expected: 0.2% Previous: 8.3% https://www.dailyfx.com/economic-calendar#2021-07-29
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  • Heads Up:🇯🇵 Retail Sales YoY (JUN) due at 23:50 GMT (15min) Expected: 0.2% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇯🇵 Industrial Production YoY Prel (JUN) due at 23:50 GMT (15min) Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Unemployment Rate (JUN) Actual: 2.9% Expected: 3% Previous: 3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/fT1DNXph5D
Strategy Video: Think Twice Before Abandoning Your Strategy

Strategy Video: Think Twice Before Abandoning Your Strategy

John Kicklighter, Chief Strategist

Talking Points:

  • Strategies are often abandoned after a string of losses in a period where it is not well-match with conditions
  • Most strategies have many common, fundamental connections that shouldn't be thrown out with the 'edge'
  • Often, well-thought out strategies are made more capable when paired with a means to distinguish market type

See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

How many times in your trading career have you scraped a trading strategy? Frustration in trading often peaks when a strategy comes upon a series of losses that leads many to completely start over. However, constant churn in strategy and approach without a closer examination can leads to far more harm than benefit in trading. Often strategies are abandoned after a strong of poor trades. That seems logical on the face of it, but most strategies go through good and bad runs. If strategies are regularly scraped in during poor periods, an account or portfolio accumulates 'death rattles'. Strategy, however, should change with circumstance. Yet, it is just as likely that a well-thought out strategy should be 'turned on and off' according to the market conditions. A range strategy is good for range conditions, not breakout or trend. And, when change is necessary; it is often specific components that need replacing and not the full plan from top to bottom. We look at the practicalities behind strategy replacement - or reinvention - with a mind to recent market shifts in today's Strategy Video.

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