I’m off of work today due to cough, cold and sore throat, so what better way to help the day pass than learn a bit more of my trading.
At the moment I’m not a winner. (63% in Undergraduate), but starting to see indicators and signals.
My question is this…
I am listening to News and Forex items and interesting stuff is coming out about the Ukraine, currently concerning the crash, and that the Ukrainian Army have now captured the Airport in the area.
How will this kind of news effect the Forex Markets?
What kinda of issues may arise and are there any ways, if there is, of finding entry points for some pairs because of this?
Thank you for your time guys.
P.S. Any of you guys at a similar level to me? It would be nice to have a level headed buddy to confer with and not sound like an idiot.
Sorry off topic, I am at a similar level, just finished the school this week, however I tried to inbox you but I need 20 posts or more, looks like I will have to start posting. I could also do with someone at a similar level to discuss things with as it seems hard to find anyone locally that shares a similar interest.
Back on topic, I too would also be interested if someone with experience could provide an insight to Goingrashy’s question.
Think of the markets as an instant barometer of fear and greed.
The millions upon millions of different vested interests backed by those two emotions, will be factored into price every single Milli-second of every single day, in real-time.
There is nothing more indicative of price and bias/sentiment, then price itself.
Be careful putting any value at all into “articles” you read on the web.
For every 10 articles you read about how the Ukrainian / Gaza conflicts will increase the price of oil, you can find 10 more saying just the opposite.
Every one is entitled to their own opinion, but it’s yours that matters at the end of the day.
It’s your money, so, why would you rely on anyone else (especially a stranger) to tell you what to do with it?
The only thing you should ever worry about is what price is telling you as an individual.
Everything else is just a distraction meant to lure you into weak positions.
Just look @ any major broker and the articles they put out.
One day, they can be saying how USDCAD is going lower, the next, higher.
Which is exactly the case- because, market conditions can change that quickly.
But, it’s more important for you to pick up on shifts in sentiment than to rely on anyone else.
[QUOTE=“Goingrashy;643402”]Oh Cool, Hi Danny, I’m Gary. How long did it take you to complete the school? I’ve been over a year, but pushed it up a level now as starting to understand stuff better. I’m from portsmouth UK, you?[/QUOTE]
Hey Gary, I started last year at this time however, had winter off due to doing up my first house and then started again January - February time so about 8-9 month it has taken me. I will constantly need to keep re-reading though, a lot of info to absorb but I’m enjoying it. I’m from Lincolnshire.
FOREXunlimited - thanks for the response, your reply has definitely made me see articles from a different perspective.
I work full time and after a big pay out from my last job wanted to find a way on investing money that didn’t include anyone else. Found Forex and love it!
I’m still down but am chipping away at pips slowly.
ATM im trying the journal part, and having a plan. So I’m using 3 x MA with a colour system. Red for 10 Amber for 25 and Green for 100.
Kinda like traffic lights so when I see red/amber/green I buy when first appear. and if Green/Amber/Red I sell.
I also have three indicators. Momentum Stochastic and RSI. to help assist in the decision.
Dont copy it though! its only a trial attempt. eheheh.
Pardon me for interfering but what you are saying is the sure way for a bad start and lots of trouble.
If you are planning to claim the world cup (btw, Argentina should own the last one imho) then you have to play i.e. interact in this case with such level other players and not avoid them due to insecurity while seeking to interact with other beginners for possible self-confirmation. Been there done that.
A negative person may think W. Buffett is an idiot (as far as trading is concerned), it’s the negative thinking person’s problem not W. Buffett’s.
From a different perspective if “you do what you love AND you love what you do” there is no end to self-development, meaning that even a 90 yrs old multi-trillion succesful trader can still be a “newbie”.
Let me give you a little different take. When I first started I quickly found that more times than not, any advice that starts or ends with “Always and/or Never” will mostly likely be incorrect. I use to say forex falls into 3 categories (33.3333 each) as far as Things you might want to always do; Things you probably never should do: and things you may or may not do depending on the circumstances. With some experience and learning I still believe you can divide forex into the 3 things, however you can’t use the 1/3,1/3,1/3rule it’s more like 10 you probably should do, 10 you probably never do and 80% depends.
Back to the news. If you believe big money, smart money or professional money or what ever else you want to label them, controls the markets, then it would only make sense that it doesn’t matter what the event or news is because you’re not trading based on the event; your trading based on the signals big,smart,professional etc money give. You can test this by going back at looking a major events from the past, markets never always move a particular way cause of an event,
Markets move in 1 of 4 ways: sideways (accumulation), Up (markup), sideways (distribution), down (markdown), then back to accumulation before they markeup again. Again go back to your charts scroll back and take a look for your self.
These 2 tips have saved me a lot of money. Learn how to trade around the news first. 2. Wait 30 minutes after the overlap of whatever markets you’re trading to access what’s happening. In my case I trade NY open to London close. Don’t trade 20 minutes before or after major event announcements. Now when you hear okay fine that’s okay for shorter term traders but not for longer terms. I suspect if you asked longer term traders they would say open smaller lot sizes and scale in and out of trades based on supply and demand, smart money, price action. I don’t think we could find to many longer term traders considering the Ukrainian news or 1 or 2 housing starts. Like I said different take.
As far as feeling like an idiot here’s my take on that as well. An idiot is someone who believes they can come into and trade the foreign exchange because they know everything about everything. When you ask a question about Ukranian news and how it effects trading, everyone who answered you to try and help you, also helped themselves reinforce their experiences. Which is what trading is all about, drawing on your collection of experiences to have more positive results than negative long term. Good Luck
Gp
Ha don’t worry, last thing I will be doing is copying anyone. I will keep convo to minimum when off topic until I can private message.
Etfak, thanks for your advice/perspective. However I wasn’t implying I would avoid experienced traders on another level from myself and only communicate with beginners, I merely meant discuss things I am learning at the same level as others. If I required advice or an answer to a question I would look to individuals with more experience on these forms, no disrespect to Gary neither
But I appreciate your input and see where you are coming from.
[QUOTE=“PipMeHappy;651547”]The news is that Russia is preparing a new offensive against Ukraine… The sentiment coming out of the EU summit this weekend seems to be that Russia is practically ‘at war with Europe’… Is this the start of a global conflict… World War Three? I wonder if we will see some markets gap down significantly after this weekend… Could this be the catalyst, the spark that will set global markets and overinflated positioning (like the S&P500) on the de-leveraging path of risk aversion?[/QUOTE]
IMO Russia has total control over Ukraine they did Ever since the Stalin days , Russia not quite ready for war with Europe yet so far , they just playing tag back and forth with sanctions and a what not I read a very interesting article on bloomberg saying that Russians hacked JPmorgan and s few other banks
IMO I think Putin is just protecting what’s his and technically Russia has total control over Ukraine ,
I don’t know if you watch gold prices they have been flat just stocks rallying , for now , usual when ever there’s any rumours about war gold should be flying up by now .
Especially with what’s going on in ISIS not just Ukraine gold prices should soaring I have no idea what’s going on most stocks & commodities rising
Other than gold and silver , even other metals gaining strength
You know what they say buy low sell high I’m maybe looking for dow and s&p to retrace this week maybe I might even go in a few short positions
Sorry for the late reply. been busy completing the School. (All done, so now time to practice).
Thank you and all the others for your feed back. Its greatly appreciated and noted.
I work full time at the moment so my trades, will be open for a week or so I think.
I have created a journal so for the next year. I’m gonna take notes on good stuff and bad stuff. hopefully, I’ll have something that works around then.
