2ND UPDATE :  EURUSD SPIKED AND WITHDREW AND FIZZLED OUT

 

 UPDATE : EUR    GERMAN MANUFACTURING & SERVICES PMI CAME OUT : WITH A CONFLICT, NO TRADE

 

TODAY FRIDAY 19/02/21@ 9.30 AM: EUR   GERMAN MANUFACTURING & SERVICES PMI

 CURRENCY PAIR IN FOCUS : EURUSD

RATING :NEUTRAL ON BOTH POSITIVE AND NEGATIVE REPORTS.

ACTION :  IF BOTH MANUFACTURING & SERVICES PMI ARE POSITIVE,

SCALP EURUSD BY BUYING EURUSD AND IF BOTH ARE NEGATIVE, SAME SCALPING

BY SELLING EURUSD OR SKIP THE TRADE ALTOGETHER SINCE WE DO NOT SCALP

 

 

MY MISSION STATEMENT:

 1. My ability to correctly and accurately predict the outcomes of both medium and high impact

economic news reports that drive the foreign exchange market is rated thus: failure to success

ratio of : 1:99. 

When you put this into perspective, it is 99% success rate.

2. If you translate the success rate into the " GOOD" trades and the risk to reward ratio of  1:9,

you have 90% chance of having good and money making trades all year round. 

With a minimum of ten trades per year, we are sure of at least nine good ones out of ten trades.

3. Only about 0.5% of all the medium and high impact economic data are tradable and that  is

the reason why only 5% of forex retail traders are successful, making it a big challenge for me

to try and do something.

4. The Forex market is the most liquid market in the world with a trading volume of  $5.3 Trillion.

Compare this huge size with the Futures market with only $437.4 billion and the Equity market

with only $191 billion.  The retail traders are at the receiving end.

5. These " Markets" are big enough for all participants to thrive in and make money, but only the

few " knowledgeable" ones are smiling to the banks always.  

6. You do not lose money if you do not trade bad reports and your available margin remains intact.

If you trade less, there is the tendency to conserve the balance amount on your trading account, which

you will be ready to deploy to execute good trades when the opportunities arise. It makes absolute

sense to avoid risky trades because , it is quite better to miss a good trade than to trade a bad one.

7. I am eager to address this huge gap between those who are successful and those that are not.

If you new to forex trading, you must open a demo account and practice for at least three months

before thinking of a live account.

FOLLOW OUR ANALYSIS CLOSELY AND MAKE THE BEST OUT OF IT ALL. GOOD LUCK.