Merlin Rothfeld
Online Trading Academy
Trading is a business, Period! As traders, we must treat it like one. Merlin welcomes the President of the Online Trading Academy in Washington DC and Baltimore to the show to talk about his new book “The Business Godfather Treatment: The Streetsmart Handbook for Building Business Wealth.” Chris and Merlin look at some major factors to take your business and trading to the next level.
This content is intended to provide educational information only. This information should not be construed as individual or customized legal, tax, financial or investment services. As each individual's situation is unique, a qualified professional should be consulted before making legal, tax, financial and investment decisions. The educational information provided in this article does not comprise any course or a part of any course that may be used as an educational credit for any certification purpose and will not prepare any User to be accredited for any licenses in any industry and will not prepare any User to get a job. Reproduced by permission from OTAcademy.com click here for Terms of Use: https://www.otacademy.com/about/terms
Editors’ Picks
EUR/USD slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession
The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.
GBP/USD extends decline as weak jobs data bolsters BoE rate cut bets
The Pound Sterling continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.
USD/JPY bulls retain control near one-week high; 155.00 remains in sight
USD/JPY consolidates the previous day's strong gains to over a one-week top, though the bias seems tilted in favor of bulls as worries about Japan's fiscal health and the upbeat market mood continue to undermine the safe-haven Japanese Yen. Meanwhile, the FOMC Minutes showed that Fed officials remain split over the necessity and timing of further rate cuts amid concerns about inflation, which acts as a tailwind for the US Dollar and should support the currency pair.
Editors’ Picks
AUD/USD holds steady near weekly low after mixed Aussie jobs report
AUD/USD holds steady above the weekly low following the release of mixed Australian employment data, which showed that the economy added 17.8K new jobs in January and the jobless rate held steady at 4.1%, compared to a rise to 4.2% expected. The data does little to temper bets for additional tightening by the RBA, doing little to influence the Aussie. The US Dollar, on the other hand, preserves the overnight gains led by less dovish FOMC Minutes and caps the upside for the currency pair.
USD/JPY bulls retain control near one-week high; 155.00 remains in sight
USD/JPY consolidates the previous day's strong gains to over a one-week top, though the bias seems tilted in favor of bulls as worries about Japan's fiscal health and the upbeat market mood continue to undermine the safe-haven Japanese Yen. Meanwhile, the FOMC Minutes showed that Fed officials remain split over the necessity and timing of further rate cuts amid concerns about inflation, which acts as a tailwind for the US Dollar and should support the currency pair.
Gold rises above $4,950 as US-Iran tensions boost safe-haven demand
Gold price holds positive ground near $4,985 during the early Asian session on Thursday. The precious metal recovers amid shifts in geopolitical sentiment, boosting safe-haven demand. Traders will keep an eye on the release of US Initial Jobless Claims, Pending Home Sales data, and the Fedspeak later on Thursday.
Zora launches attention markets on Solana network
Zora has launched a new attention markets feature on the Solana network, allowing users to trade and speculate on emerging online cultural trends.
Mixed UK inflation data no gamechanger for the Bank of England
Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.
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.