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Yes, BUT, I would submit that you forgot one of the most important things to consider before you even look at a chart. The fact that you are pairs traders, implies that you are long one currency and short another currency, hence a currency “pair”. Have you thought about what pair you have picked and why it might not be the BEST pair to trade？
Unless your analysis starts with relative strength and weakness first, you might not be in the most uncorrelated currencies to give you the biggest move based on what you thought was a good setup on a chart.
When you are able to group the JPY pairs together and identify the % change on all 7 pairings, it will give you a snapshot of the strongest and weakness currencies at the present time. You are then able to determine the pair that has the best odds of providing the biggest move when there is the catalyst to provide energy in the pair.
Because every trade is a relative value trade, you can simply look at the % change and can quickly identify the pair that will give you the potential biggest move for a specific currency in play.
For example, if there is news on the USD, what currency would you use to pair against the USD to give you the biggest move if the news is bullish or bearish？ Truth is, it won‘t be the same pair. If it’s a bullish USD, then one of the other 7 currencies will be the weakest and if bearish, one will be the strongest.
By grouping the JPY pairs and identifying the most uncorrelated currencies, you can take your trading to the next level. Yes, you can be profitable without this analysis, but I would submit that it will help move the odds further in your favor and increase your risk/reward ratio.
You can‘t earn much from a $100 account. To those people who spam you with videos like “I turned $100 into $10,000 in one week”, they probably tried it 20 times before they get lucky this one time. That is what they don’t show you.
When youre able to have such huge growths within such a short period of time, you would have to throw your risk management out the window.
Often times, most traders blow all their profits out in just 1 bad trade.
So my point here is this, treat it like a practice account. Use it to practice trading live. If you treat it like a get-rich-quick account, you will blow it up really fast.
Also, don‘t expect to use a $100 account to quit your job unless you’re the 0.01% of traders I was talking about who is experienced enough to execute it.
Everybody can trade with a $100 account, but not everyone can handle it properly.
Its just like how everybody can drive a normal car but not able to drive a Ferrari at 200km/hour and still come out of it without a scratch.The reason a lot of traders blow their small accounts is that they either dont see the small sum as something that is significant to them or they over-leverage their positions.
If you‘re only earning $2 and $4 profits from your small account, it’s easy to get impatient and fall into the temptation to increase your lot size beyond acceptable levels.
Many traders grew their $100 to $500 in 3 months and only took 1 bad trade to wipe out their past 3 months of hard work. They just couldnt resist the temptation to increase their risk exposure to speed up their account growth.
In fact, the smaller the account, the larger is the temptation to rush the whole entire process. If youre not careful, you will learn the lesson the hard way.
Even if your $100 account grows by 1% a day, the ending balance and profits arent as exciting as what the trading commercials portray to you.
Theres just too much marketing hype nowadays about starting with a small account and getting rich from it.
People who do not make money are certainly not geniuses. There are two types of people who make money: the first type experience much ups and downs in the process of making money. Take a look at the trading records of them and you'll see that they apply high leverages, so even a few points of market movement in their favor may convert into tens of thousands of gains in a few seconds. The second type make steady profits, and their trade records often show losses and gains taking turns: a profit of 1,000, then a loss of 300, a loss of 200, a profit of 800, a loss of 400, and a profit of 1500....but ultimately the gains outnumber losses.
Although the general ledger of the first type of trader may appears to be profiting, sometimes even tremendously, but as long as they stay in the market, they may eventually end up losing everything someday, drawing a sad period for their trading career. This type of trader are actually no more than irrational gamblers. But in a world where one is defined by what he achieves, people tend to worship and praise those traders when they make a fortune in the market by calling them genius and masters. Yet this is simply a common myth. The reason for this type of traders to make big profits or losses is that they base tradings mostly on speculation. Every execution is essentially an all-in game, and they either make it or break it. Such behaviors and the consequences are actually backed by a wrong concept: as long as people are smart enough, they can predict the future.
The human nature of greed cannot be completely controlled in trading, and the only way to solve this problem is by implementing a personal trading plan. The illusion that the future is predictable will make the trader obstinate and overly confident. In that case the trader's greed will uncontrollably fuel into his trading, as he seek to gain more money with even higher leverage. Suppose the trading process is funded by an endless cash flow, this approach can bring the trader huge success as long as he can afford the price of occasional losses. But the problem is however rich a person may be, he can't have such infinite wealth and with the trading method, he'll lose everything once he slip.
Meanwhile, the second type of trader's transaction records often show impressive earning stability and fund security. Although the general ledger profit does not appear to be outstanding, it can be seen that this type of trader have good risk management plans. In the long run, these traders are bound to profit. They believe that people cannot predict the future, so the only thing you can do to deal with future risks is to prepare for it by making plans. With that, the trader's greed is also controlled within a reasonable degree. In terms of operation, they typically trade with a moderate amount of funds, and the degree of loss is limited and minimized to an acceptable range through risk management scheme. In their trading there will never be such thing as a heavy loss that cost all of the principal.
Therefore, whether the trading is profitable, even significantly, is not the only criteria of deciding if someone is a genius trader. This is just one of the standards. What matters more is the rationality and stability of the profit method. Trading geniuses are not necessarily those who make the most money, but they must be the ones who can achieve the steadiest profits. As for those traders who often publish some excellent trading results on Facebook showing 100% winning records without losses, it's safe to say that they are genius - in cheating people.
Regardless of whether the UK and the EU have reached an agreement in trade negotiations, the new coronavirus has caused the worst economic blow to the UK in 100 years. Therefore, forex traders generally believe that the Bank of England will implement negative interest rates in the future to stimulate the economy.
In order to support the weak economy, the British fiscal deficit and even the overall debt have deteriorated seriously. At present, the overall borrowings of the United Kingdom exceeds US$ 2.5 trillion, the highest annual deficit since World War II. The related deficits and debts have skyrocketed, which only add to the already huge burden of Britain with little reserves. Therefore, it is generally predicted that the British government will increase taxes in the future with few options at hand, which will hit the economy even more.
Affected by the above situations, the implied volatility of the three-month pound sterling is higher than the forex volatility index, while the net short position of the pound has continued to rise, both reflecting the continued pessimism of the forex market towards the pound.
The dollar will fall in the short term due to domestic turmoil, and if the European-British negotiations really see a dramatic turnaround, it's likely that the GBP/USD will rise from the previous 1.2650 and then fall back to the 1.1960 level. Judging from the overall trend, I think there is still a chance for the pair to retest the low of 1.1400 in the second half of the year.Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.
Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.
In this interest rate meeting, the Fed not only faced unexpectedly strong recovery of employment data, but also a Nasdaq index that hit a record high, so under this situation, the Fed does not need to add more quantitative or implement controversial negative interest rates. However, in order to stabilize the financial market, Powell chose to release the relevant attitude in a more dovish way so as to continue to maintain a loose monetary policy to appease the market.
Affected by the Federal Reserve's slightly dovish post-meeting statement, real-time USDX fell to 95.716. The US dollar also fell against almost all major currencies, while Japanese yen and Swiss franc offered the most impressive performance, likely benefiting from the rather disappointing Dow Jones Industrial Average as safe-haven currencies.
In the short-term, the Yen and the Swiss franc can keep their momentum. The USD/JPY is moving towards 106.00. If it happens to coincide with adjustment of US stock market, the USD/JPY might breach downward to the 106.00 mark and move towards another resistance level of 104.45. The USD/CHF further weakens, basically it has broken through several support levels and it is now moving towards 0.9335. If this mark is lost, it will challenge the March low of 0.9181 again.
[About The Author]
Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.
Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.
Blizzard has revealed their plans to launch WoW Classic Phase 2 content and features for this week, beginning November 11.To get more news about Cheap WoW Items, you can visit lootwowgold news official website.
News of the schedule was first confirmed during BlizzCon 2019, with a brief announcement made alongside the Shadowlands reveal.Parts of Phase 2 have already gone live, such as the Dire Maul Dungeon being opened on October 15.
Other content was held back, with Blizzard deciding to delay the launch of the Azuregos and Kazzak spawns.But this week will see the final WoW Classic Phase 2 content go live, including much-requested features from fans.
Blizzard has also warned that the WoW Classic Phase 2 release is being spread across the week, meaning we won’t get everything at the same time.This process starts today, November 11, with the dev team updating the Free Character Move service.
Some Realms will see restrictions put in place, while others will still permit transfers for a time.But Blizzard has warned that this feature could be removed at any time, making today the best time to sort your plans.These changes are ongoing, and this latest update will likely have gone through when reading this article.
“Free Character Moves from all realms to Sul’thraze (Brazil), and Loatheb (Mexico) will be closed at this time,” a message from Blizzard reveals.
“Free Character Moves will no longer be available from Atiesh, Benediction, or Yojamba (Australia).
“We strongly suggest that any players planning to use a Free Character Move do so as soon as possible. Free Character Moves may be disabled without warning at any time.”
This first part of the WoW Classic launch will be completed relatively quickly and the second should get underway on Tuesday, November 12.
This part is crucial to the whole process and means there could be some disruption to gameplay. Blizzard has confirmed that they will not be launching the World Bosses until all Realms are back to a single-layer.
This is to avoid any duplication when fighting the World Bosses, as they’re supposed to be tackled as a singular threat.
WoW Classic maintenance will signal the start of the layering process, which should start at around 3pm in the UK. Disruption is expected, and players may be left queuing again for a short time.
Blizzard has announced the first official esports tournament for World of Warcraft Classic since the game’s release in August 2019, a PvP event that will be held over three weekends, beginning on June 17.To get more news about WoW Gold Classic Cheap, you can visit lootwowgold news official website.
The Summer Bowl 10-v-10 tournament will take place in the Warsong Gulch capture-the-flag battleground, and players from North America and Europe will compete for a prize pool of $4,000 in each region. The games will occur on live World of Warcraft Classic servers and use the recently released War Game feature.
Teams of 10 players may sign up in their region, and all players with a level 60 character on live WoW Classic servers are eligible to compete. The European qualifier will be held on June 20-21, with the North American qualifier taking place the following weekend on June 27-28. Finals, which will be open to the top six teams in each region, are scheduled for July 4 and 5 for Europe and North America respectively.
Using the MMO’s new War Game feature, teams will be able to queue up to compete against other teams in their region. Additional information about rules and eligibility for the World of Warcraft Classic Summer Bowl Warsong Gulch PvP tournament can be found on the European and North American signup pages.
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The auto parts industry has chalked up a decade of steady growth, but analysts and forecasters believe the strains of falling vehicle sales, rising material costs and huge demands for r&d spending could bring the party to an end.To get more news about auto parts, you can visit iengniek official website.
The combination of uncertainty over future technologies, lingering import tariffs and unsettled trade issues with key trading partners — China, Mexico, Canada and Europe — will erode supplier company values and stock prices, making it harder to keep up current spending demands, many now worry.
The industry is already in transition, cutting payrolls ahead of any real continued fallout. The sector cut nearly 22,000 jobs in the U.S. through May, or 211 percent more than the same five months of 2018, according to data by Challenger, Gray and Christmas Inc.
But who suffers most will be determined by business strategy, argues Neal Ganguli, managing director and leader of the automotive supply base group for Deloitte.
“Past success is no longer a guarantee of future earnings,” Ganguli said. “The industry itself is going to grow, but the supply base is going to change and just because the cost of parts per vehicle is going to go up, it does not mean a rising tide is going to lift all boats.”Ganguli believes that the appearance of industry gains has been somewhat misleading.
Auto suppliers around the world have created $510 billion in shareholder value since the Great Recession. That more than doubled the sector’s market value before the recession.But that growth was not equally shared, according to Deloitte’s 2019 Global Automotive Supplier Study, released this month.
The top third of auto suppliers accounted for more than 99 percent of the growth, Ganguli said.
The troubling market forces will drive consolidation in the industry, Ganguli said, and suppliers will either be on the hunt for stronger segments to add to their portfolio, or they will become part of someone else’s plans.
“If you’re in a commoditized sector, you’re asking how you consolidate,” Ganguli said. “How are you going to be the last one, two or three companies standing? Someone has to make axles, for example. Will it be you? The solution is to build scale, consolidate and be the cost leader or be ready to be consolidated.”
The consolidation is driven by long-term outlooks on where market growth will be taking place. According to the study, segments such as transmissions and axles are expected to decline 6 to 10 percent, respectively, by 2025. Meanwhile, the electric and autonomous vehicle sectors will rise. Electric drivetrain is expected to grow 306 percent, battery and fuel cell sectors by 266 percent and advanced driver-assistance systems and sensors by 190 percent, according to Deloitte.
Investments in these sectors are likely to ramp up in the wake of declining car sales, as suppliers position themselves for sustainability in a down market, Ganguli said.An economic downturn “is going to force consolidation to happen faster,” Ganguli said. “Suppliers will focus their business even more and that means divesting or acquiring.”