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  • The US Dollar finished off an eventful week after CPI and retail sales injected volatility into markets. FOMC is now in the Greenback’s sights as taper talks linger. Get your market update from @FxWestwater here: https://t.co/MHi0lfQ93j https://t.co/4XetwYAaNd
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/ZZRLV0Wkea
  • The Nasdaq 100 index has likely formed a bearish Gartley pattern, which hints at further downside potential. Negative MACD divergence on the weekly chart suggests that upward momentum may be fading. Get your market update from @margaretyjy here: https://t.co/GkMEkVA7YR https://t.co/E1vyCMVt6K
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1G4lMu https://t.co/2TpkkUu7Hg
  • Tesla boss Elon Musk is seemingly running the cryptocurrency market single-handed this week with his tweets prompting a massive sell-off before today’s sharp rally. Get your market update from @nickcawley1 here: https://t.co/qGci02osOP https://t.co/Yp24Sakrfl
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/LDP3HlN4A3
  • GBP/USD on the front foot to close the week. Bulls aim for YTD peak, while EUR/GBP range is maintained. Get your market update from @JMcQueenFX here: https://t.co/neGBchlJ0O https://t.co/KME51FSF0D
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCrRwD https://t.co/7w5jodyzj0
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
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Becoming a Better Trader: Q&A Session

Becoming a Better Trader: Q&A Session

Paul Robinson, Strategist

Join Paul Tuesday-Friday for webinars each week, for details please see the Webinar Calendar.

Today, we did one of our routine Q&A sessions dropped in between topic-related sessions. Traders had a lot of good questions pertaining to risk management, trade execution techniques, types of analysis to use, time-frames to focus on, and how to manage specific situations.

Here is an example of a situation presented and the response on how to handle it: “How do I handle the losing period I’m currently in?” First off, everyone goes through stretches of difficult trading, so you’re not alone in having to overcome adversity from time to time to get back on track. The first word of advice is to significantly reduce trading size, or all-together take a break from the market. You need to stop the bleeding from an account management standpoint while giving your head a break from the stress. Once you get out of the fire, you will start to feel immediate relief. Once you’ve had some time to decompress, it’s time to figure out what is going on. It could be poor execution of your game-plan (which everyone should have to begin with) or difficult market conditions not conducive to your trading style. In any event, taking some time away will allow you to objectively figure out where the problems lie. Then, once you have isolated the issues which were plaguing you, you can return to the market. But do so with smaller than normal size, get a few winning trades under your belt to rebuild confidence. Once you reach a point of feeling confident again, then increase your size back to a normal level.

For the full discussion, please see the video above…

Looking for Ideas? Check out our Trading Forecasts.

---Written by Paul Robinson, Market Analyst

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You can follow Paul on Twitter at @PaulRobinonFX.

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

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