I am a "good" trader, not excellent, not professional and not yet rich. I am a profitable trader with a small account being patient with compounding. Time will tell about trading consistency.
That being said, cowboys, here's my view of the bank moves. This would play out over weeks. Remember, bankers are sluffing off this month because of the holidays. There will be last minute holiday moves by sharp commercial traders in order to trap traders and gain liquidity. Partner, don't be one of these losers!
Lesson for the rest of December: Sit and watch the market for hours on end while sitting on yer hands. That's right. Don't trade. Pay attention to your emotions and how hard it might be to NOT pull the trigger.
If you can do this, you move beyond riding a Welsh pony to a quarter horse, but not the racing horses or the bucking broncos. Not yet, pardner, not yet.
To whom it applies: Have a Merry Christmas, Happy Hannukah and Happy Kawanza
That being said, cowboys, here's my view of the bank moves. This would play out over weeks. Remember, bankers are sluffing off this month because of the holidays. There will be last minute holiday moves by sharp commercial traders in order to trap traders and gain liquidity. Partner, don't be one of these losers!
Lesson for the rest of December: Sit and watch the market for hours on end while sitting on yer hands. That's right. Don't trade. Pay attention to your emotions and how hard it might be to NOT pull the trigger.
If you can do this, you move beyond riding a Welsh pony to a quarter horse, but not the racing horses or the bucking broncos. Not yet, pardner, not yet.
To whom it applies: Have a Merry Christmas, Happy Hannukah and Happy Kawanza
Comment:
I'm leaving this chart for my reference, but it is not DXY. It is XAUUSD (gold vs dollar). The reason for the mistake: my mind knows they are opposing correlates and I watch commodities to view dollar and watch dollar to view correlated fx pairs.