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
EUR/USD
Bearish
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
Oil - US Crude
Bearish
Wall Street
Mixed
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
Gold
Mixed
GBP/USD
Mixed
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
USD/JPY
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 Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.62% 🇪🇺EUR: 0.36% 🇦🇺AUD: 0.34% 🇨🇭CHF: 0.27% 🇬🇧GBP: 0.22% 🇯🇵JPY: 0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lqTv2LsiOQ
  • Heads Up:🇺🇸 Retail Sales Ex Autos MoM (APR) due at 12:30 GMT (15min) Expected: 0.7% Previous: 8.4% https://www.dailyfx.com/economic-calendar#2021-05-14
  • Heads Up:🇺🇸 Retail Sales MoM (APR) due at 12:30 GMT (15min) Expected: 1% Previous: 9.8% https://www.dailyfx.com/economic-calendar#2021-05-14
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/hmeDFA6Uf9
  • going along with that $USD resistance hit, $GBPUSD rallied off of support around the 1.4000 handle. https://t.co/KNn3Fu7Dd0 https://t.co/SJQGdichSR
  • $USD with another bearish reaction, right at that resistance zone of 90.82 looked at on Wednesday https://t.co/qpsq0NqMvN https://t.co/ovkULuAVyk
  • Heads Up:🇮🇳 Balance of Trade Final (APR) due at 12:20 GMT (15min) Expected: $-15.2B Previous: $-13.93B https://www.dailyfx.com/economic-calendar#2021-05-14
  • - ECB's Schnabel said surge in prices of risky assets caused risks
  • ECB Minutes - Widely agreed that it should be highlighted that the future pace of purchases under the PEPP was data-dependent and would continue to be based on the joint assessment of financing conditions and the inflation outlook.
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/sblZcIjZ31
Becoming a Better Trader: Q&A (Webinar)

Becoming a Better Trader: Q&A (Webinar)

Paul Robinson, Strategist

Join Paul every Thursday for the “Becoming a Better Trader” webinar. For details and a full line-up of all upcoming live events, please see the DailyFX Webinar Calendar.

In this webinar, I opened the field up for questions pertaining to a host of questions related to trading performance, ranging from psychology to risk management to trade execution and more.

One question asked was, “How do you avoid taking unnecessary trades?” It is imperative to make sure each trade entered fits within your game-plan. Every trader should have a game-plan which consists of analysis, trade entry/exit criteria, and risk management. It’s a good idea to talk yourself through each trade or have a checklist to keep you centered on only those trades which you should be taking. By going through a process of checking off the proper boxes you will find that many trades don’t actually fit into your game-plan, and thus will help you avoid those ‘unnecessary’ trades.

Another question asked was, “How many positions should I have on at one time?” This is dependent on experience level, but generally it is a good idea to keep the number limited and only focus on the highest quality set-ups. Too many positions creates a ‘noisy’ environment and can lead to trading mistakes which can be avoided with a more pointed approach. Taking into consideration correlation between positions is also important for overall account risk managment.

There were a host of other good questions asked, and most of the answers boiled down to focusing on the process of trading within the constructs of having a proper trading plan in place. For details, please see the video above.

Looking to further educate yourself about trading? See our Trading Guides.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES