Patience and consistency

Hi Winners!!!

Everyday I get to analyze the markets, and the one thing that is always consistent is the fact that we don’t get paid by trading the markets. But rather we get paid by being patient while we trade the markets.

My name is Percy, and I am excited to exchange ideas and knowledge to help one another build consistency in trading the markets. :crown::blush:

Welcome aboard, and best of luck.

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Welcome to the community Percy! We’ll be looking forward to hearing more from you. See you around and good luck!

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Having enough patience is a real test for ,long-term traders like myself.

Right now the USD has been pushed ahead by the bulls but its gone too far for a new long entry. Meanwhile the GBP is to be avoided, its trading mostly sideways but we don’t have a settled Prime Minister, Chancellor or Cabinet and there’s no profit trying to second-guess the Bank of England’s next interest rate decision.

Meanwhile , due to the weakness of the commodity currencies and the JPY, the EUR has floated way above its capabilities. This is almost certainly a trap: even in the absence of negative economic data, the ECB will find a way to undermine their own currency.


Can I ask the reason behind this scenario? Why ECB have to “find a way to undermine their own currency”?

Its just what the ECB do and always do. If they act, which they do not do often enough, it will be too little too late. But what can we expect for a currency that is used across so many disparate countries with radically different economies? To expect the ECB to make the EUR strong would be like expecting the Fed to maintain a strong stable dollar if they had to make decisions for the equal benefit of not just the US economy but also Brazil, Canada, Peru, Argentina and Fiji.

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Welcome to the community, @RWG-SA. Good luck on your fx trading journey. Hope to hear more from you in the future.

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