EURUSD --Back to familiar area 1.1730s --- Now what ?
FOMC news caused a spike to 1.1800s area then back to familiar area 1.1730s
WARNING: One lesson i learned when i started trading while working as an AI Quant and HFT Algo trader ( 11 years now as Quant & Trader)
1. Never under any circumstances believe or trust any FX or Technical Analyst at any cost. They are simply "trash talkers" with historical perspective on what is going to happen. That's called insanity or "LOCO"
Analysts have the skin in the game and all they trying to do is turn the sentiment towards their own trade or clients trades.
Of course if they are right or " Lucky" we call them trading Gods. Its like gambling
2. Do not believe even me. Always trust your own analysis to succeed in FX trading . its like running a business .
If those analyst were that successful as they make you believe they would be Billionaires. Trading requires mathematical Acumen , time-series analytics on the Price Actions and some AI . Most of us don't have those qualities
NOTE: The most successful traders or quants never even talk about what they are doing . They might give you a hint but you will never find them telling about magic strategies or softwares because they know NONE exists even with AI algorithms ( "Creme de la Creme" of Algo trading ). Never buy any trading software, strategies or garbage being sold as the holy grails . 99.9% of them are complete SCAMs.
Ask yourself , does banks like Goldman Sachs sell their own money making algorithms for penny's . The Answer is a resounding NO. Instead they will sue you if you happen to have your hand on any of their strategies.
So why do you think that someone or a successful trader would sell you a money making strategy , indicators or software if it really works ? i wouldn't do that if it were me.
WARNING: One lesson i learned when i started trading while working as an AI Quant and HFT Algo trader ( 11 years now as Quant & Trader)
1. Never under any circumstances believe or trust any FX or Technical Analyst at any cost. They are simply "trash talkers" with historical perspective on what is going to happen. That's called insanity or "LOCO"
Analysts have the skin in the game and all they trying to do is turn the sentiment towards their own trade or clients trades.
Of course if they are right or " Lucky" we call them trading Gods. Its like gambling
2. Do not believe even me. Always trust your own analysis to succeed in FX trading . its like running a business .
If those analyst were that successful as they make you believe they would be Billionaires. Trading requires mathematical Acumen , time-series analytics on the Price Actions and some AI . Most of us don't have those qualities
NOTE: The most successful traders or quants never even talk about what they are doing . They might give you a hint but you will never find them telling about magic strategies or softwares because they know NONE exists even with AI algorithms ( "Creme de la Creme" of Algo trading ). Never buy any trading software, strategies or garbage being sold as the holy grails . 99.9% of them are complete SCAMs.
Ask yourself , does banks like Goldman Sachs sell their own money making algorithms for penny's . The Answer is a resounding NO. Instead they will sue you if you happen to have your hand on any of their strategies.
So why do you think that someone or a successful trader would sell you a money making strategy , indicators or software if it really works ? i wouldn't do that if it were me.
Comment:
well FOMC & US data today sunk the EURUSD from 1.1790 to 1.1634