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Risk Event for the week starting 19 July: ECB - short EUR/GBP


MongiIG

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  • Posts

    • That's the sentence. You don't really care about where the market is going, you are fine as long as you can handle your exits.  If you focus on 'when to enter' your system will be wrong most of the time, but if you focus on how to handle drawdowns you might get it right. That's why TA books are only useful as door stoppers or monitor lifters. 
    • Just sharing the fundamentals. There are only 3 ways the market can go. Up, down or sideways. In other words, if we bet on 1 way. There is only 1/3 probability we can make money.  Can we have 2/3 probability of winning? It is possible, if we hold a sideway position long enough for it to move up. But is it possible to have 3/3 or 100% win? Hmm... it is not possible. Yet it seems, we have many (novice) people who trade and hope to win all the time.  So, why is it most traders lose money in the market? Winning traders form around 10% of the market participants.   If you can't win at trading, find out why. As a famous saying goes. Tell me where I die and I make sure I don't go there. It is normal to make losses in trading, just make sure the losses are not too big. Learn from it and make better trading decisions next time.    
    • Market data to trade on Friday: USD/JPY; GBP/USD IGTV’s Daniela Sabin Hathorn looks at USD/JPY ahead of the December CPI reading from Japan and the meeting minutes from the latest BOJ meeting. She also looks at GBP/USD ahead of the December retail sales data in the UK. https://www.ig.com/uk/market-insight-articles/market-data-to-trade-on-friday--usd-jpy--gbp-usd-220120    
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