Week 6
This is where the power of speculators trading lies, spotting volatility ahead of time. I hope your first attempt didn’t turn out to be a none event last week, if it did, don’t worry. Sometimes news or data comes out before the main event and renders the actual trade idea irrelevant. But more often than not you find yourself nailing the trade of the week. This and the daily recaps is now part of your routine, coupled with your peak performance training, you’re armed to the teeth to take on this week like a boss.
Research: Oil market and OPEC agenda
Weekly research tasks are designed to put you in charge of your own education. Understand the effects of fluctuating oil prices on the Canadian Dollar, Norwegian Krona and Russian rubble. What role does the OPEC play in the oil market and what is their current strategy? Predicting and trading Brent or Crude oil is one of the toughest assets in the financial markets. The supply of oil engulfs every single country, as petrol prices rise and fall. Inevitably effects inflation, which Central Banks try to control in their earnest. So there are a lot of hands involved driving the price of an Oil barrel.
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 to start you off.