There is now seemingly only two global economies, The US and the rest. Two economic continents that continue to drift further apart. The Greek’s maintained their austerity stand-off last week whilst the ECB held their ground.
The ability of the Greeks to follow through election promises will be tough and euro suffocation is the threat as they try to breath the life back into their struggling economy and growing poverty.
Meanwhile across the pond the momentum of US recovery continues to show its strength and this time it was seen in wages as well as employment. The rate hike scenario for June is back on the cards.
This week proved to be as unpredictable as recent dramas have warned us they can be. I have always warned against making assumptions in the Forex and the market as a whole, but here is one assumption you can make in 2015, unpredictability is the new norm!
For a few months we have been posting here detailed reports of the fundamentals that drive the market. As most of you know, at fotistradingacademy we train to be professionals and professionals would not dare trade without the information that we discuss on a daily basis. It has become part of our daily routine as has the awareness of how markets move in relation to each other and how with macro vision, we perceive how economies are all globally interconnected.
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There is a new age in economies and how they affect not just the Forex but all markets. In our pro site we look at the checks and balances that make sense of the global macro environment. Just how important sentiment is and exactly how we can use the monitoring process to our benefit. The shifts and balances and precursors that the Bond markets hold. What to expect from monetary policy and its language.
This is just the tip of the global macro iceberg. It permeates risk reward decisions and renders technical analysis as the last step in a rigourous approach. Thus the trading decision is backed by our own knowledge and interpretation and much more comfortable to make and stand by. Then comes management of the trade all done in the beneficial light of the market drivers.
Do we still take losses? Sure we do, it is part of the trader’s job and and expense that must be incurred to ensure success. But even then the losses can be rationalised, for the most part. I found it quite astonishing that quite intuitively, I started looking at fundamentals to explain why a trade went against my decision. And I nearly always identify why.
This week on the radar we have the ECB meeting to watch for tomorrow (Wednesday) and the G20 going on, and we know what they will be discussing. Also a crucial inflation report from the UK and words from Carney. From the US, retail data and consumer sentiment. All very important and thus all catalysts.
Confidence, discipline, routine , knowledge, instruments and indicators….all part what it takes to become a pro trader. And at fotistradingacademy.com, we will show you how to put them all together in the right way.
Joining was the best decision I have made. If your intention is to be a pro-trader, you won’t regret. I didn’t.
Judith Waker
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