Summary
Jack Inman will lead a special coaching session on FXStreet, that includes an short exercise with volunteers in the room called "beat the EA"! The coaching will consist of a session where we look at the two main types of trading, mechanical and discretionary trading giving users a description of what the two different systems are, their advantages and disadvantages and why in general most traders accept discretionary systems as being the difference between being a profitable and highly profitable trader. The coaching will also focus on highlighting to users the impact that using discretion can have on the individual trader’s results when applied correctly. It will highlight areas where flexibility can lead to increased performance and give certain examples of things that can be used to help improve performance such as flexibility with stop loss and profit target placement, entry and trade management. As well as this the session will show a real life situation where discretionary testing has been tested against mechanical trading before culminating in an short exercise/competition called ‘’beat the EA’’, complete with a prize should the participants win. The exercise will focus on why with the same system some traders are more profitable than others – and show the issues that face traders psychologically, highlighting why some traders, despite using the same system have different resultsLatest Live Videos
Editors’ Picks
EUR/USD trims losses, back to 1.1830
EUR/USD manages to regain some composure, leaving behind part of the earlier losses and reclaim the 1.1830 region on Tuesday. In the meantime, the US Dollar’s upside impulse loses some momentum while investors remain cautious ahead of upcoming US data releases, including the FOMC Minutes.
GBP/USD bounces off lows, retargets 1.3550
After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.
Gold remains offered below $5,000
Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.
Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand
The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.
UK jobs market weakens, bolstering rate cut hopes
In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.
Here is what you need to know on Tuesday, February 17:
Safe-haven flows dominate the action in financial markets early Tuesday as trading conditions normalize following the US holiday. The economic calendar will feature ZEW sentiment figures from Germany, the weekly ADP Employment Change 4-week Average data from the US and January inflation report from Canada.