Reporter: "Why did you play so hard?"
Joe DiMaggio: "Because there might have been somebody in the stands today who'd never seen me play before, and might never see me again."
FOUNDATION - Things have gone well for me on the trading side in recent years and after so much hard work and many many setbacks, it is that much more gratifying to see the reward on the other side. I have spent a lot of time over the years talking about how you need to 1) love your trades (not just like them) and 2) make sure you are able to sleep at night (if you can't sleep, reduce your size). These 2 rules have been at the core of my trading ideology and have had a lot to do with my success as a trader. These rules are simple but they also promote discipline, eliminate impulsive behavior and help me measure appropriate risk exposure. Over the past couple of days, I have been thinking more about my strategy and have realized something else.
OBLIGATION - Each day I get up and jump out of bed excited to scan the market and see what major developments are impacting price action and ultimately inviting new opportunities. Now....I am no professional athlete, but at the same time, I am up and at it each day, expecting to give it my best shot when I step onto this field that is financial markets. Of course, not only am I at it with the trading, but I am also committed to sharing my insights, thoughts and trading ideas with you. This is something that has been most helpful to my process as a trader, as it allows me to think more clearly and talk through my ideas. It also forces me to really think about what I'm doing as I also have an obligation to you which I do not take lightly.
PLAYING HARD - And so, when things are going well, I don't look at it as a chance to take an unnecessary risk or ease up on the brakes. I don't look to force anything just because it might be worth a shot. I take my job seriously and do my best to give it my maximum effort every day. Joe DiMaggio was one of the greatest baseball players of all time and equally respected as a professional. So looking back at his quote in the intro to this piece, I am inspired to do the same. JKonFX has been growing at quite the pace and this growth has been an amazing thing to see. I don't take this for granted! I want to give each new member the same dedicated analysis, strategy insight and trades that I have been putting out over the past several years. So if you're already a member, know that I will continue to give it my best. And if you're thinking about joining up, know that I recognize you have never seen me play before and will give it my everything.
This analysis is for informational and educational purposes only. This is not a recommendation to buy or sell anything. MarketPunks is not a financial advisor and this does not constitute investment advice. All of the information contained herein should be independently verified and confirmed. Please be aware of the risks involved with trading in currencies, stocks, commodities, cryptocurrencies and sports. Do not trade with money you cannot afford to lose. It is recommended that you consult a qualified financial advisor before making any investment decisions.
Editors’ Picks
EUR/USD climbs to daily highs near 1.1820
EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.
GBP/USD trims losses, retests 1.3460
After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.
Japanese Yen gives back half of early gains against USD ahead of US PPI data
The Japanese Yen (JPY) surrenders half of its early gains against the US Dollar (USD) during the European trading session on Friday. The USD/JPY pair rebounds to near 155.90 as the JPY falls back, but is still 0.15% down.
Editors’ Picks
EUR/USD climbs to daily highs near 1.1820
EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.
GBP/USD trims losses, retests 1.3460
After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.
Gold flirts with four-week highs past $5,200
Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.
Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias
Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.
Changing the game: International implications of recent tariff developments
The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.
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