Sitting in cash. Waiting patiently for MY opportunities to trade the FOREX market. Here's what I'm looking at for tomorrow.
Tomorrow, July 8th, 2020 I'm looking at trading: USD @ 10:30am - Crude Oil Inventories NZD @ 9:00pm - ANZ Business Confidence IF* the proper opportunities present themselves then I'll take a position. Otherwise, I will continue to sit in cash until the conditions I'm looking for arise. Patience is a BIG part of my strategy.
Because you are selling, your trade is entered at the price of 1.33820. You look at your position later in the day and discover that the EUR/USD is now at 1.34160/180. Your trade has lost 36 pips. You decide to close your position at the current buy price of 1.34180 and accept your losses. Get started with FOREX.com Trading foreign exchange on the currency market, also called trading forex, can be a thrilling hobby and a great source of income. To put it into perspective, the securities market trades about $22.4 billion per day; the forex market trades about $5 trillion per day. You can trade forex online in multiple ways. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. For most trading styles, the best time to trade is at times of greatest market liquidity. The greatest liquidity in the Forex market tends to arise during the overlap between London and New York business hours, which occurs on weekdays between 9:30am and 1pm New York time. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act.
Trading Forex for Beginners - The Basics - YouTube
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