Four weeks done! Good work! Keep going!
Last week you were given the tools to master a life art. You see, making money and having success in the financial markets is a science. Everyone can do it if they follow the right path. But mastering fulfillment is an art. Feeling joyous and happy detached and unconditional of your environment and surroundings. That is true happiness and once you master that, everything you want in your life will be in your reach. So keep at it and balance your E-D-S-O.
Trade of the Week
This week you’ll put to work what you learned in the last 20 days or so. You’ll be hunting for volatility. Going through the weekly calendar and armed with 4 weeks worth of information captured from your daily recaps. You’ll determine which market event, what day, will cause a big price movement. In other words you’ll spot the massive candle on the chart before it is printed. Nailing the direction at this stage is irrelevant but admittedly a bonus. Follow the trade of the week reports published on the dedicated page, and replicate the format. Understand market’s anticipation and sentiment. There is almost always a weekly story unfolding spot at least one, more would be favorable. Good luck to you!
Research: CHF, YEN and Gold relation to risk
Weekly research tasks are designed to put you in charge of your own education. Understanding risk appetite or commonly known as risk-on or risk-off. Goes a long way in understanding short term price fluctuations. Especially across CHF and YEN crosses but also Gold, which are all safe heaven assets. What causes risk to spike and investors to panic? Draw out several risk events from the past, and see how market reacted to those events. What happened in the aftermath? Risk is almost always a shock to the market and unpredictable. It poses a risk to open positions, and as a trader you must be aware of such risks. More importantly you should have the expertise and functioning to react once a risk event hits the wire. When markets are in turmoil, you don’t want to be the trader scrambling for answers, so be prepared and informed. Credible sources are investopedia, babypips, fxstreet and Wikipedia. The list is not exhaustive, feel free to explore and discuss your findings with me on Twitter @specstrading
Here is a link on safe havens.