Good Day,
Busy trading this morning,
Big news day today. Starting out the ADP Nonfarm employment change came out up 130K. Advance GDP Annualized came out down .06%.
But, Later this afternoon we have Mr Bernanke speaking. As usual he'll mystify the trading community with his idiotic statements. But it should create a good money making opportunity.
JP
Wednesday, January 30, 2008
Tuesday, January 29, 2008
Daily Fundamentals 1/29/2008
Good Morning,
This morning we had durable goods numbers come out its at 5.2% it was expected to be at 1.9%. Core Durable goods came out up 2.6% percent. The national home price index came out down 7.7%. Later this morning consumer confidence comes out at 10am EST.
The big thing to watch this week is gold. Sitting at 925 and oz. If the fed lowers rates another big percent gold could hit 950 to 975 and oz.
JP
This morning we had durable goods numbers come out its at 5.2% it was expected to be at 1.9%. Core Durable goods came out up 2.6% percent. The national home price index came out down 7.7%. Later this morning consumer confidence comes out at 10am EST.
The big thing to watch this week is gold. Sitting at 925 and oz. If the fed lowers rates another big percent gold could hit 950 to 975 and oz.
JP
Monday, January 28, 2008
Demo trading (Emotion)
Lesson Time,
Today i want to talk about trading a demo account. There are many good sides of trading a demo account. However, one of the biggest factors in determining trading success is left out. That is emotion. A chart on a demo account VS the same chart on a live account will look different. When trading a demo account, you will look at the chart more objectively and see the buys and sell signals. You may see the same thing on a live account. but, if you don't have your emotions in line. You will start making radical trades resulting in losing a lot of money.
How can you fix this problem,
Trade on a demo account for no more than 90 days. Create a trading plan. Trade according to your plan. If you lose. You trade the next day according to your loss criteria. You set a curtain amount of pips each day you want to achieve.
I've read a lot of articles about how forex trading or day trading is impossible. Yes it is impossible if you don't have a plan, and execute that plan. If you fail to plan you plan to fail. Remember people. Its not about big quick gains. Its about small consistent gains.
Today i want to talk about trading a demo account. There are many good sides of trading a demo account. However, one of the biggest factors in determining trading success is left out. That is emotion. A chart on a demo account VS the same chart on a live account will look different. When trading a demo account, you will look at the chart more objectively and see the buys and sell signals. You may see the same thing on a live account. but, if you don't have your emotions in line. You will start making radical trades resulting in losing a lot of money.
How can you fix this problem,
Trade on a demo account for no more than 90 days. Create a trading plan. Trade according to your plan. If you lose. You trade the next day according to your loss criteria. You set a curtain amount of pips each day you want to achieve.
I've read a lot of articles about how forex trading or day trading is impossible. Yes it is impossible if you don't have a plan, and execute that plan. If you fail to plan you plan to fail. Remember people. Its not about big quick gains. Its about small consistent gains.
Daily Fundamentals 1/28/2008
Good Morning,
Finally we have a good news week this week. Fed meeting this week will be a nice mover depending on what bernanke does. but, i believe he'll do something crazy. Today we only have new home sales coming out at 10am. The projection for that number is 645k.
Finally we have a good news week this week. Fed meeting this week will be a nice mover depending on what bernanke does. but, i believe he'll do something crazy. Today we only have new home sales coming out at 10am. The projection for that number is 645k.
Wednesday, January 23, 2008
Daily Fundamentals 1/23/2008
Good Morning
Its been crazy in the market for day traders. People are getting slammed left and right. I'd even wait for a more weeks to start buying more into mutual funds and long term investments. The Nikkei closed last night up 256 after the feds statement. There are talks about Ben Bernanke might cut rates even more. These are some crazy times on the market place. Be Careful!!
JP
Its been crazy in the market for day traders. People are getting slammed left and right. I'd even wait for a more weeks to start buying more into mutual funds and long term investments. The Nikkei closed last night up 256 after the feds statement. There are talks about Ben Bernanke might cut rates even more. These are some crazy times on the market place. Be Careful!!
JP
Tuesday, January 22, 2008
Daily Fundamentals 1/22/2008 Breaking News!
The Federal reserve chairmen cut rates by .75 percentage points, This sent the futures and forex markets into a frenzy. dollar/yen moved nearly 200 points, and gold shot up nearly 20 dollars. but, is suspected to return to its moving average.
All international markets were down yesterday, European markets were down 200, Asian markets down 750 and US markets down 59 points. Its going to be interesting to see what the markets do after the fed cut.
I'd be careful today, Extreme Volatility....
All international markets were down yesterday, European markets were down 200, Asian markets down 750 and US markets down 59 points. Its going to be interesting to see what the markets do after the fed cut.
I'd be careful today, Extreme Volatility....
Monday, January 21, 2008
Daily Fundamentals 1/21/2008
Good Morning
Its gonna be a pretty slow week on the news side of the market. But the big story this week is going to be gold. Gold is sitting at 868 an oz, that's down from 890-900 last week. Gold could drop way lower due to slower world economy. If I were you I'd wait for the pullback to buy gold. Watch your indicators and the news for a good movement indicator.
Have a good monday,
JP
Its gonna be a pretty slow week on the news side of the market. But the big story this week is going to be gold. Gold is sitting at 868 an oz, that's down from 890-900 last week. Gold could drop way lower due to slower world economy. If I were you I'd wait for the pullback to buy gold. Watch your indicators and the news for a good movement indicator.
Have a good monday,
JP
Subscribe to:
Posts (Atom)