So I have often heard that people who trade in forex, take breaks from trading. This helps them become better traders ( I am going to try this, because as a small trader myself I feel compelled to go in and trade). I guess this is the maturity that comes with time. Dont trade when the conditions are not right. I am also working on my trading plan ( I have concluded this is a WIP) but I need to have a draft plan in place soon.
Anyways coming to the point on the ECB announcment, I was watching the press conference, listening intently to ECB president Mario Draghi, now going by what the media outlets have been feeding people like me I was expecting a big bazooka', as they were talking about deflation and how they will take steps to control it.
As you can see, there is going to be no 'bazooka' the markets are still for the lack of a better word screwed up. I am day trading, but if the EURO breaks up there will be financial chaos. The sovereign debt may be a countries problem, but isnt the European union suppose to be a union so that they start functioning as one currency. I am no economist, but if these guys will continue to push nationalistic agendas and not address the issues at hand, they will plummet the world in a financial crisis which I belive will make the 2008 financial meltdown seem like a Sunday picnic, with tea and cucumber sandwiches.
Il aso was thinking, before every meltdown there may be a symbolic big boy that dies, look at Bear Stearns, Lehman brothers. Now we have MF mutual. Not as huge, but big, same drama and public enquiry. Could this be the tell tale sign before the domino effect starts? ( I have a shudder going down my spine as I write this).
Anyways Looking to see whats going to happen this evening in Europe as the leaders meet to talk. One advice though, dont trade today, when a big announcement is happening as the movement in the currency prices can wipe out small traders like me ( and you if you are reading this)
Happy trading folks!
Anyways coming to the point on the ECB announcment, I was watching the press conference, listening intently to ECB president Mario Draghi, now going by what the media outlets have been feeding people like me I was expecting a big bazooka', as they were talking about deflation and how they will take steps to control it.
As you can see, there is going to be no 'bazooka' the markets are still for the lack of a better word screwed up. I am day trading, but if the EURO breaks up there will be financial chaos. The sovereign debt may be a countries problem, but isnt the European union suppose to be a union so that they start functioning as one currency. I am no economist, but if these guys will continue to push nationalistic agendas and not address the issues at hand, they will plummet the world in a financial crisis which I belive will make the 2008 financial meltdown seem like a Sunday picnic, with tea and cucumber sandwiches.
Il aso was thinking, before every meltdown there may be a symbolic big boy that dies, look at Bear Stearns, Lehman brothers. Now we have MF mutual. Not as huge, but big, same drama and public enquiry. Could this be the tell tale sign before the domino effect starts? ( I have a shudder going down my spine as I write this).
Anyways Looking to see whats going to happen this evening in Europe as the leaders meet to talk. One advice though, dont trade today, when a big announcement is happening as the movement in the currency prices can wipe out small traders like me ( and you if you are reading this)
Happy trading folks!
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