stressful and not a healthy way to approach the markets. Go to 3:03 in the video. What you can do though, is refine your ability to read price charts and identify technical patterns which present trading opportunities when the probabilities are in your favor. But youll never be able to do this, if youre not even aware of who moves the market, how, and why. But not before a bunch of peoples accounts were blown out due to slippage. . Some traders try to digest, understand, and incorporate all this news data into their trading system in an attempt to catch the volatility.
You can debate whether the low liquidity at the time really does add to the severity of the fall, or if having more volume (more people trading) would be more necessary for a sharper decline, but well set this aside. And the AUD/JPY fell seven percent?
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While we, as technical traders, cant just ignore these influences or pretend they doesnt exist (because economic data thats released on an hour to hour basis definitely affects the outcome of our trades should we be paying more attention to the economic calendar? Honestly, as a technical price action based trader, I hardly ever check the economic calendar. The fundamental correlation most people follow is that AUD is the pro-China play, and the JPY is the anti-China play. Just like everywhere else, instant-gratification monkeys getting slaughtered, and patient, surgical tactitians walking home with the loot. Another one of the typical rookie. Lets break all of this nonsense down. Im going to refer back to this definition as well. . Just like a great thief would. Good luck on the charts this week! Like I mentioned earlier, most market participants are actually technical traders who use the data from the actual price charts to make their trading decisions.
I only use the price action signals to trigger me into trades. Yet, most traders dont even understand what the data really means. But if they were such legitimate reasons, why did price spring right back up?