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US OPENEuropean bourses positive despite lower US futures, DXY veers lower and Crude climbs on Venezuelan tariffs
Good morning USA traders, hope your day is off to a great start!
Here are the top 5 things you need to know for today’s market.
5 Things You Need to Know
US President Trump sanctioned Venezuelan oil. Elsewhere, India has proposed the removal/reduction of tariffs
European bourses defied the lead from futures and opened in the green, US futures in the red but only modestly so and hold onto the bulk of Monday’s gains
DXY steady throughout the morning but most recently at a session low to the benefit of peers across the board, EUR also aided by Ifo
Fixed benchmarks in the red, weighed on by Ifo and supply; USTs await Fed speak
Crude bid in an extension of Monday’s action, TTF softer on Ukraine updates while Gold has inched to fresh highs
<p style=”text-align: center;”>Try Newsquawk for 7 Days Free</p>EURUSD 4h
Supports: 1.08100, 1.07950 & 1.07750
Resistances: 1.08300, 1.08550 & 1.08900
Current momentum Up
As long as below 1.08550 daily direction is Down
Looking at 2-3 days period, EUR can spike up to around 1.09200 and then turn down again.
If above 1.09200 targets 1.10850
Personally, I would like to see this correction going all the way to 1.06850 before Up again.
USDJPY 4 HOUR – Chart tells the story
This is one of those days where this chart tells the whole story
Bid while above 150.18 but upside contained unless 151.30 is taken out.
Back below 150.18 would negate yesterday’s mini breakout and shift the range to 149.50-150.00
150 the clear bias setting level going forward.
XAUUSD 4 HOUR CHART – Consolidating
I hate the word consolidating but with that said…
XAUUSD still consolidating between 2999 – 3038, seemingly biding its time for another run up unless 3000 is firmly broken.
Otherwise, break of 3038 would cool lingering retracement risk
Break of 2999 would expose 2978, which is the key level to maintain the daily uptrend. .
Using my platform as a HEARMAP shows
…the dollar trading close to unchanged after briefly extending its rebound overnight.
EURUSD 1.08 is the bias setting level…. what caight my eye is the low (1.0777) poauxed above the 1.0765 ley support/target. .
XAUUSD a touch firmer after holding iff another run at 3000
US equities consolidating and so far not following through on yesterday’s rally.
Light news day… headline watch remains on the next Trump tariff comment
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
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In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
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Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
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Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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