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  • Opinions - Not Facts

    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • GBP/USD a Buy?

    By DailyFX Updates | October 8, 2007

    According to our Speculative Sentiment Report from last Thursday, the SSI for the GBP/USD flipped from negative to positive.  In the past,  when retail was long but flipped to net short, the GBP/USD has rallied in the following days.  Based upon this information, now may be a good time to buy the GBP/USD for a quick bounce.

     Latest Speculative Sentiment Report


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    Topics: DailyFX.com Updates | No Comments »

    Trading is not about how much you win, but rather how much you lose.

    By Tom Long | October 4, 2007

    We often mention in the FX Power Courses that one of the key differences between a new trader and a professional trader is that new traders think about how much they can win while professional traders think about how much they can lose.  It’s no coincidence that professional traders make money while many new traders do not.  Often you will see a professional spend as much time determining the placement of their initial protective stop as they do in finding their entry.  As the market moves in their direction, they will not hesitate to move the stop in order to protect any gains.  Successful trading is all about identifying and limiting your losses.  In the world of trading there is only one guarantee and that is if you trade, you will have losing trades.  How you manage those losses will have as much of an influence on your long term success as any other factor.  The idea is to risk no more than you are willing to lose.  If you don’t want to lose half of your account balance on one trade, then don’t risk that much.  You have most of the control over this by where you place your protective stop.  Keep your risk down to less than 5% of your account balance and you will be able to absorb many losers and still remain in the game.  Winning will take care of itself, but you have to have the funds to take the trade in order to profit.  You can do that by limiting your risk to an acceptable level any time you are in a trade.


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    Topics: Don't Trade Like This | No Comments »