Simple Forex System Trading

Not much movement is expected on the last trading day before Christmas.  Although the major currencies and the stock markets all appeared to be stuck in ranges, the oil prices continued to climb.  What are they trying to tell us?  Things are looking good all of a sudden?  I guess we’ll find out after the holidays.

If you don’t have any positions in the markets now, good for you.  Enjoy the holidays with no worries.  But if you do, let’s hope SNB or BOJ won’t make any crazy move right before Christmas eve.

Want to be a successful trader? It’s not enough to master generic trading strategies: you must first know yourself. You must understand your own emotional predilections and psychological tendencies. You must learn how to match your strategies to your own personality. You must choose strategies that are sustainable over the long haul, that you can tolerate–and execute.

Michael Martin’s The Inner Voice of Trading explains why deep self-knowledge is so crucial to successful trading, helps you gain that self-knowledge, and guides you in applying it. Drawing on interviews and discussions with great traders like Michael Marcus and Ed Seykota, he shows how to quiet your mind, develop an “inner voice” you can rely on, and make it your most important trading ally.

via Amazon.com: The Inner Voice of Trading: Eliminate the Noise, and Profit from the Strategies That Are Right for You (9780132616256): Michael Martin: Books.

Didn’t we see the headline yesterday that said there was hope in Europe so the stocks went up?  As expected, it is hopeless today.  Tomorrow, let’s toss a coin – head, hope; tail, death.

Asian stocks fell Thursday as hopes faded that a bold solution might be found to a crippling debt crisis that is threatening to drag Europe into a deep recession.

Benchmark oil rose above $100 per barrel while the dollar fell against the euro and the yen.

via Asian stocks fall on Europe crisis pessimism – Yahoo! Finance.

Oh ya, let’s watch the breaking news again.  It might give you an idea on how to trade euro dollar.

How many times have you seen news like this?

Today’s headline:  Stocks up due to imminent Europe debt fix…

Tomorrow’s headline:  Euro down on Europe debt uncertainty…

The day after tomorrow:  Euro soars on Markel’s hope for a new Europe…

Watch this breaking news.  This just in…  It may affect your trading strategy on euro.