THE Charts CANNOT Predict the FUTURE - Only MONEY FLOW Leads the way... Charts are ONLY X Rays of the PAST and Present and NOT the Future !!!
Good Morning Forex Traders
I have just shorted 50 units of US30 (Dow 30)
There is RISK OFF this morning and many Geopolitical risks out there over the next 72 hours.
There is the bail hearing in Vancouver today concerning the woman business executive from China. There is major risk or reward if she is given bail.
We have the Brexit vote tomorrow.
We have Macron making a Major announcement in France today concerning the riots over the last four weeks.
None of these matters have anything to do with technical indicators and that is why most Forex traders both retail and commercial lose 95% of their trading capital.
So we have fundamentals in the Geopolitical area and of course we have the regular fundamental information coming out each day that effect markets of all types.
The MOST IMPORTANT Fundamental and the one that gives me my Trading EDGE is "MONEYFLOW" as all asset classes change in value as money flows depending on RISK ON or RISK OFF.
Then of course there is the most IMPORTANT matter of RISK MANAGEMENT where if you do not trade with enough capital or protect your capital you will have margin calls because of the great volatility since February 2, 2018 of this year.
Have a positive and productive Forex trading week.
The most important FACTOR in becoming a successful and satisfied Forex trader is yourself.
That is why I teach Forex traders both retail and commercial using a $50,000 US funds FXCM Demo Account over a three month period in order to have them trade with the proper amount of Forex trading capital and it allows me to see if they have the human qualifications to be able to deal with their FEAR and GREED which all humans have.
The EGO is usually the hardest thing to control and unless you have the DISCIPLINE to do the work and stick to your trading plans then you will not CUT your losses or take your profits.
The markets are always RIGHT until they are not and all your knowledge and hope and fear will not have any influence on the directions of the markets.
Benjaminis