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What you spend, what you buy, what you earn and what you can earn is all the psychological state of your mind. Nobody has the capability to judge the rise or fall of the market. The approximation is also a challenge to judge. The confidence to win, initiates your entry but the fear of loss persists. It is widely accepted and agreed that the efficiency of the stroke played in a trade transaction depends on the mental setup of the decision maker at that very moment. It’s the result of psychological chemistry taking place in ones body.
Updated 5:20am EST – With the exception of Spain, European equity markets are all in positive territory. The British pound is taking a beating after the Bank of England released the latest inflation report. US equity futures remain slightly higher on the session. US treasuries are gaining strength, trading higher on the session. Commodities are [...]
Updated 5:30am EST – European equity markets are barely in positive territory, while the US equity futures are relatively unchanged on the session. Commodities are trading with a slight negative tone. Gold and silver are retreating slightly, as is crude which is trading below the $77/barrel level. In the currency markets, the Japanese yen is [...]
For our last live trade call, we were watching the UK CPI report yesterday morning. We were looking to sell the GBPUSD if the number came out at least 0.2% worse than expected. The actual number came out only 0.1% worse than expected so it did not meet our safe trigger. Our next live trade [...]
Updated 5:30am EST – Global equity markets are trading in positive territory across the board. US equity futures continue to trend higher. US treasuries are lower, while commodities are generally unchanged. Crude is barely above the $77/barrel level. In the currency markets, the Japanese yen is weaker against the majors.
The USD was slightly weaker in a thin Asian session, as volume remains light due to the Lunar new year. The AUD/USD opened in Sydney at 0.8880, but quickly climbed to 0.8960 as risk sentiment improved and the 0.8915 horizontal resistance gave-way (triggering stops). The RBA minutes of Feb 2nd policy meeting provided no real [...]
Updated 6am EST – European equity markets are trading in positive territory, with the US equity futures also higher on the session. Commodities are stronger across the board. Crude is back above the $75/barrel level. In the currency markets, the US dollar is showing some slight weakness, while strength can be found in the commodity [...]
Updated 5am EST – European equity markets are slightly higher on the session of relatively low liquidity. US equity futures are barely lower ahead of the US open. Commodities are trading in a tight range. The currency markets are trading on lower liquidity with no dramatic movements so far today. Lower liquidity and irregular volatility [...]
Yesterday morning we were watching several releases, including the UK Industrial Production and Canadian and US Trade Balance reports. For the UK Industrial Production release we were looking to buy the GBPUSD if the number came out at least 0.5% better than expected. The actual number came out only 0.3% better than expected so it did not meet our safe trigger.
What are *PIPS* ?
Currencies are traded on a price/ point (pip) system. Each currency pair has its own pip value.
When you see a FOREX price quote, you’ll see something listed like this:
EUR/USD 1.2210/13
Explanation:
a) If you want to BUY the EUR/USD ( meaning you BUY EUROS and SELL US$ ) you buy 100,000 EUROS and you SELL 122,130 US$, or in other words you receive
122,130 US$ for 100,000 EUROS.
B) If you want to SELL the EUR/USD ( meaning you SELL EUROS …
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