Good morning Traders Podcast listeners! Your host is Rob Booker and today in Episode 530 he reads a question from Adriana. Rob loves hearing from traders. Thanks for writing, texting, and e-mailing! Adriana is looking for information to get started trading, again in a way that will help her tackle the emotions that get in the way of trading. Rob has some guidance. Learn how to handle a losing streak and a draw down. The primary way to deal with this is to reduce your trade size. Also, Rob Booker speaks of Tim Sykes’s trading strategy, with reference to losses, and how to know which strategy might be best for you. Thanks for tuning in today fellow traders!
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD remains offered below 1.1800, looks at US data
EUR/USD is still trading on the defensive in the latter part of Thursday’s session, while the US Dollar maintains its bid bias as investors now gear up for Friday’s key release of the PCE data, advanced Q4 GDP prints and flash PMIs.
GBP/USD bounces off monthly lows near 1.3430
GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.
USD/JPY sticks to gains near one-week top, above 155.00 on softer Japanese CPI
USD/JPY attracts some dip-buying following the release of Japan's soft consumer inflation figures, which tempers bets for an immediate BoJ rate hike and weighs on the Japanese Yen amid fiscal concerns. Apart from this, a bullish US Dollar keeps spot prices close to over a one-week top. However, a slight deterioration in the global risk sentiment might cap gains. Traders now look to the US Q4 GDP report and the crucial PCE Price Index for cues about Fed policy outlook amid rising bets for more rate cuts, which will drive the US Dollar and provide a fresh impetus to the currency pair.
Editors’ Picks
AUD/USD flat lines around mid-0.7000s as traders await US GDP, PCE data
AUD/USD holds steady around mid-0.7000s during the Asian session on Friday, just above a nearly two-week low touched the previous day, as traders keenly await the release of the Advance Q4 US GDP and the US PCE Price Index. The crucial data would provide more cues about the Fed's rate-cut path, which will drive the US Dollar and the currency pair. In the meantime, the RBA's hawkish stance might continue to act as a tailwind for the Aussie, though a softer risk tone acts as a headwind.
USD/JPY sticks to gains near one-week top, above 155.00 on softer Japanese CPI
USD/JPY attracts some dip-buying following the release of Japan's soft consumer inflation figures, which tempers bets for an immediate BoJ rate hike and weighs on the Japanese Yen amid fiscal concerns. Apart from this, a bullish US Dollar keeps spot prices close to over a one-week top. However, a slight deterioration in the global risk sentiment might cap gains. Traders now look to the US Q4 GDP report and the crucial PCE Price Index for cues about Fed policy outlook amid rising bets for more rate cuts, which will drive the US Dollar and provide a fresh impetus to the currency pair.
Gold drifts higher to near $5,000 on heightened US-Iran tensions
Gold price holds positive ground near $5,000 during the early Asian session on Friday. The precious metal edges higher as escalating tensions between the United States and Iran boost safe-haven demand. Traders brace for the preliminary reading of US Gross Domestic Product for the fourth quarter, the Personal Consumption Expenditures and the S&P Global Purchasing Managers Index data, which are due later on Friday.
XRP edges lower as SG-FORGE integrates EUR stablecoin on XRP Ledger
Ripple’s (XRP) outlook remains weak, as headwinds spark declines toward the $1.40 psychological support at the time of writing on Thursday.
Hawkish Fed minutes and a market finding its footing
It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.
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