This is your monthly EarnForex.com newsletter.
To cancel your subscription, please use the link at the bottom of this message.
EarnForex.com Monthly Newsletter
| | | | Welcome to the latest issue of EarnForex.com newsletter — February 2017. In this issue of EarnForex.com newsletter, I will remind you about the most important Forex-related events of the last month and will also show you the list of the site's latest updates. | | EDITORIAL: Thinking of the Next Trade as a Losing One | | One useful skill any new Forex trader should learn is to consider his or her next trade a loser. On the surface, it looks illogical and counterproductive, but in practice, it is very effective. When you think of your next trade as a losing one instead of a winning one, you gain the following benefits: - You do not over-risk. You set the trade's volume according to your general position sizing rules and there is no temptation to increase the risk just because 'this one is going to be a winner'.
- You are not getting depressed if it actually closes out with a loss.
- You get a positive surprise if it turns out to be profitable.
- You can focus on other trading opportunities without investing to much emotional capital into your current position.
Inexperienced traders often make a mistake of believing that their next trade is going to be a win. This brings a lot of frustration and leads to oversizing and overtrading. Admitting that the next trade is going to be a loser lets traders look at their overall performance as a combination of multiple trades' outcomes. It prompts traders to make sure that their account will survive the loss of the next trade. This simple technique allows skilled traders to increase their efficiency at no emotional or time cost at all. | | Overview of the major currency pairs' performance in January | | EUR/USD — soared fast and high in January. It was at the maximum at 1.0812 on January 31, at its minimum at 1.0340 on January 3, finishing the month at 1.0797. GBP/USD — after a short initial decline, the pair has rallied during the month. The highest monthly rate was at 1.2673 on January 26, while the lowest — at 1.1987 on January 16. GBP/USD finished January trading at 1.2577. USD/JPY — was in a strong downtrend in January. The pair rose to as high as 118.60 on January 3, reaching a bottom at 112.08 on January 31 and closing the month with the 112.79 rate. EUR/JPY — moved mostly sideways with an insignificant bearish bias. The monthly high was at 123.72 on January 9, the monthly low — at 120.54 on January 17. Trading ended at 121.78 for this currency pair. GBP/JPY — posted a nearly perfect V-pattern in January. The maximum level for this pair was 145.38 on January 3, while the minimum — 136.44 on January 16. The month's trading ended at 141.83 for GBP/JPY. | | Fundamental background of the past month | | The US dollar experienced the worst January in three decades due to uncertainty associated with the new US President and his policies. Among things that drove the dollar lower were the disappointing first press conference of Donald Trump as a president, his comments about excessive strength of the currency, and the decision to ban immigration from several countries with predominantly Muslim population. The dovish outlook of the European Central Bank hurt the euro, but January was not especially bad for the currency, and it managed to rally by the end of the month on the back of the dollar's weakness. Fears of a hard Brexit remained a major driving force for the Great Britain pound, though such concerns eased after the court ruled that Britain's Parliament should have a say in the matter of the nation's exit from the European Union. Risk aversion created by Trump's presidency and the Brexit fears were very beneficial to the Japanese yen. The same negative market sentiment boosted the Swiss franc, and it looks like the Swiss National Bank is going to tolerate the currency's appreciation, at least for a while. The Canadian dollar was rather strong in January despite concerns about Trump's protectionist approach and potential danger to the trading ties between the United States and Canada. Surprisingly positive employment data helped the currency, while the central bank's policy announcement hurt it. Gold behaved in the same vein as other safe haven assets, demonstrating a strong performance in January following the three-month decline. | | Interest rate changes in January | | Brazil | 13.75% | -0.75% | 13.00% | | Chile | 3.50% | -0.25% | 3.25% | | Turkey | 8.50% | +0.75% | 9.25% | You can see the current interest rates by the world's central banks in our interest rate table. | | Top 5 Forex brokers of the last month | | One new Forex broker has been added to EarnForex.com since the last issue of the newsletter: - Turnkey Forex — an unregulated UK broker with MT4 and TradeStation platforms. Micro accounts start at $5 and offer 1:200 leverage. STP accounts start at $100.
You can always view our full list of Forex brokers. | | There were the following important Forex industry news since the last issue of the newsletter: - Binary.com has significantly increased the maximum available leverage (up to 1:1000) while many Cyprus-based brokers had to reduce theirs to 1:200.
- IronFX no longer offers MetaTrader 5 as one of its trading platforms.
| | Until the next newsletter issue! | | That is all for the February issue of the EarnForex.com newsletter. If you have questions, comments or just want to see something else in the next monthly issue, please let us know. | | |
--
If you do not want to receive any more newsletters, please click this link: Unsubscribe
To update your preferences and to unsubscribe visit this link
Forward a Message to Someone this link 
|
ليست هناك تعليقات:
إرسال تعليق