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  • Gold Price Forecast: Gold Falls as Rates Rise, XAU/USD Nearing Support
  • The latest US Conference Board consumer confidence fell to the lowest level since February, the headline reading dropping to 109.3, below expectations for 114.5. Get your $USD market update from @JMcQueenFX here:
  • $SPX Daily . . Know the Levels. . . #SPX
  • ...that said, I like volatility; so by all means, bring in a person that gets these markets rocking and rolling again
  • Saying Powell is a dangerous man is disingenuous. The Fed has done very well with its dual mandate and their efforts to steady the markets for Main and Wall Street has further fed the financial bubbles we continue to blow. $VIX
  • Fed's Powell: The Fed will not be able to shield financial markets and the economy from the fallout of a US default $USD $ES_F $SPX
  • ...also worth noting, this is the Cable's biggest dive (-1.15% at present) since Sep 10, 2020
  • While EURUSD is still holding the floor on its nearly year-long range, $GBPUSD looks like it is making a play for its head-and-shoulders 'neckline' break with this 1.3600 break
  • With the charge in Treasury yields after the debt ceiling warning today, I'm going to move the likes of $TLT (the iShares 20+ year Treasury ETF) closer to the top of my watch list. Let's see where volume ends up today
Webinar: Strategy Development - Automated Trading is Not the 'Holy Grail'

Webinar: Strategy Development - Automated Trading is Not the 'Holy Grail'

John Kicklighter, Chief Strategist

Talking Points:

• Automated or coded trading is appealing to those that want to avoid emotion and apply their strategy 24 hours a day

• A robust strategy is still a necessary input for the output of good trades

• Expectations of consistent execution can lead to complacency when active engagement is the most crucial

See the schedule for the weekly fundamental webinar in the DailyFX calendar of events.

To many, an automated strategy is an easy way to a low-maintenance and consistently-profitable connection to the market. The reality, however, could not be more different. Turning over the keys to an algorithm is more likely to increase the number of trades - whether the strategy is a good one or not. An automatic execution of a bad trading strategy may reduce the interference of unwanted emotions, but it won't lead to a profitable account.

Algorithmic trading is a crutch and false sense of security for most. It is too often seen as a short cut to a comprehensive understanding of the markets and somehow that a full strategy will naturally arise from the ether. In practice, crafting a robust strategy from an emperical assessment of the market is essential and constant maintenence to ensure its performance is absolutely necessary.

Automation should be considered a tool that can help surpress some encumberances to successful trading - such as availability and encroaching emotions. Yet, it is not a fully established approach to the markets. A fully fleshed trading approach (entry, sizing, money management, etc), maintenence for trading conditions and a practical filter for fundamental considerations are required for success. Watch the recording of this webinar.

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