Episode 180 is another listener mail bag show, where your host Rob Booker begins by asking the producer, Jason Pyles, about his five other podcasts (links and descriptions can be found below). Then we dive into the mail bag:
Pablo writes to ask about brokers and bankruptcy. Nate thinks Matt LaCoco, Shonn Campbell and a number of other Rob Booker cohorts should have their own podcasts! James wrote in to request more Matt LaCoco, which leads into a discussion of sports drink flavors, which leads into a discussion about Fly Boarding. Peter writes to ask how to listen to The Traders Podcast on his iPhone. James sent in a comment about Jesse Livermore. Daljit had a question for Rob about his own personal trading. And Alan asks about “Booker reversal tabs.” All of this — and so much more trading-related commentary — in Episode 180 of The Traders Podcast.
Editors’ Picks
EUR/USD struggles to regain momentum in the low1.1600s
EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.
GBP/USD appears bid around 1.3370
GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.
USD/JPY retraces to near 157.50 amid Japanese intervention fears
USD/JPY pulls back to near 157.50 in the Asian session on Wednesday as bulls turn cautious amid Japanese FX intervention fears following the recent rally to a nearly six-week high, reached Tuesday. Meanwhile, reduced bets for an immediate BoJ rate hike undermine the Japanese Yen, while the flight to safety benefits the US Dollar's status as a global reserve currency amid expectations for a less dovish Fed, keeping the downside limited for the pair.
Editors’ Picks
AUD/USD: Recovery now targets 0.7100
AUD/USD reverses two steep daily declines in a row, gathering fresh steam and retargeting the key 0.7100 barrier at the end of the NA session on Wednesday. Fresh selling pressure around the Greenback allows the Aussie to regain traction, coming back from Tuesday’s four-week lows near 0.6950.
EUR/USD struggles to regain momentum in the low1.1600s
EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.
Gold recovers modestly despite intensifying Middle East crisis
Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.
Morgan Stanley files amended S-1 for spot Bitcoin ETF
Morgan Stanley submitted an amended S-1 filing to the US Securities and Exchange Commission on Wednesday, providing additional details on its proposed Bitcoin exchange-traded fund.
First Venezuela, now Iran: The US-China energy war escalates Premium
At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
I’m often mystified in my educational forex articles why so many traders struggle to make consistent money out of forex trading. The answer has more to do with what they don’t know than what they do know. After working in investment banks for 20 years many of which were as a Chief trader its second knowledge how to extract cash out of the market.
5 Forex News Events You Need To Know
In the fast moving world of currency markets where huge moves can seemingly come from nowhere, it is extremely important for new traders to learn about the various economic indicators and forex news events and releases that shape the markets. Indeed, quickly getting a handle on which data to look out for, what it means, and how to trade it can see new traders quickly become far more profitable and sets up the road to long term success.
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and selling pressure. Chart patterns have a proven track-record, and traders use them to identify continuation or reversal signals, to open positions and identify price targets.
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.