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Ikechukwu Destiny Chukwuka
@dibiedestyjefe
Last seen:
1 day ago
I'm a deep thinker, skeptic, lover of philosophy and psychology. I started trading in 2022, but wasn't consistent in learning. Got serious towards Q***********, now have my proven strategy and on the say to being consistently profitable as at the time of writing this, June 2026. I'm always open to connecting with other traders, exchanging ideas and most importantly, holding each other accountable.
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Yes. You can't scrap our the week just cos of the news. You just have to be careful the day of the news. Sometimes though, price can be very choppy the day before the day of the news
In other words, chart is a record of historic price action.
The charts shows us what price has done in the past, what price was at every given moment even down to a second, and how exactly price moved.
One big reason is psychology. A diversified portfolio and more sources of income reduces the pressure to always chase money on the charts.
Personally I haven't even looked at the charts since. I'll just wait till after exam, maybe Mid August before I get back on the charts.
The UoM means University of Michigan. It's a survey that's done to determine expectations and how optimistic or pessimistic consumers see the economy. It's important because consumers make up for about two thirds of the US GDP.
If it's higher than expected, it's good for the economy, meaning consumers can afford to spend more. USD might get stronger.
If it's lower, the opposite is the case.
But it's not really important or high impact like you can see, it's a yellow folder news
As an aspiring professional or profitable trader, you must know that you come into the markets with a well defined plan, saying or writing down "This ... is what I want to see in the markets before I place a trade. If I don't see this, no trade. If I see this, I'll execute with the planned risk."
GDP is Gross Domestic Product and it's the total monetary value of goods and services produced in a country over a specific period of time usually a quarter. It's an important measure of the country's economy. If the GDP comes out higher than expected, it means the economy is stronger, consumers are spending more, employment is strong and inflation might go up. So traders expect Federal Reserve to keep interest rate high or increase it to control inflation so it means the USD is likely to get stronger so pairs like XAUUSD, EURUSD, GBPUSD... may go down while pairs like USDJPY, USDCAD... may go up
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