Sign up HERE to receive free market updates. If you want more insights, including analysis of intraday, daily, weekly and monthly charts, member only webinars, Twitter updates, and trade plans, then join the SB community (click here for more). DXY (US Dollar Index) opened the week on the low and rallied into Thursday. Many were looking […]
People are obsessed with being right. In trading, tactics are more important than being correct (buying GBPUSD on 3/14 and getting stopped out is a good example of ‘being right’ and losing money with bad tactics for example). Tactics include but are not limited to HOW you enter and exit the trade. My experience with USDJPY of late is a prime example.
People will say all kinds of things to sound smart. One of my favorites is throwing out ‘yield spread’ every now and then. “Well, the US-German spread is widening so EURUSD should continue to face pressure” has been bandied about in recent weeks. Insofar as being forward looking, it’s BS because yield spreads don’t reliably lead FX rates.