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Emma Durban Thazo
@emma_durban
Last seen:
16 minutes ago
We dont trade the markets, we trade our beleif of the markets
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Currency pair: a combination of two currencies of different countries whose price is the exchange rate. An example of a currency pair is EUR/USD and the current exchange rate is around 1.1500.
So someone can say I am trading EUR/USD and the current price is at 1.1500 the price they are referring to is the exchange rate.
I guess because most traders always end up giving back money to the market and ending up with zero
EUR/USD is a utilitarian pair, investors use both currencies in the pair for hedging exchange rate risk in other investments they hold. I believe that because of this, the movement of the pair depends on the amount of hedging it is being used for and so it hardly respects support/resistance lines. It can just reverse in the middle of nowhere because some investor somewhere is using it to hedge a big risk on an investment he took. Think of it like a puppet with no mind of its own
Investors may be thinking interest rate hikes are coming so they are going to buy the dollar which will make EUR/USD price to fall
My opinion is trading in the direction of the higher timeframe is for swing traders. The fact that a higher timeframe is say bullish does not mean you cannot short, the market doeesnt move in a straight line it goes up and down
Everyone passed through this phase at some point in their trading career. Some are still stuck in this phase. Its actually like a mental case where someone who wants to commit suicide keeps cutting himself little by little till he passes out. Instead of trading once and accepting the outcome, they keep piling up small losses till their account is blown
You mean you don't even look at your economic calendar to see when important oil data is going to be released?
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