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Treasury, for instance, could choose to lower taxes and to allot more budget on capital infrastructures like highways, schools, broadband, secret military ninja bases, etc. On the other hand, if inflation starts to get out of hand, it could increase tax rates and cut spending. Even after paper currency replaced buckskin in the barter system, people still refer to the medium of exchange as bucks! Check out these forex-related properties of the buck: Liquidity is my thing!
A ginormous amount of currency transactions every day involves the USD. Commodities like gold and crude oil are also denominated in dollars. Every single transaction there, in some way, involves the USD. The Fed and the U. They believe that monetary and fiscal policy should be geared towards a strong exchange rate of the USD, as it would benefit the U. Well, the reason behind this is that some countries actually peg their currencies against the dollar!
When a country does this, the government agrees to buy or sell its currency at a fixed price versus the dollar. While the government can increase and decrease the supply of money, they are still subject to having the equivalent amount of dollars in reserve.
This process magnifies the importance of the dollar around the world because this means that some economies are entirely dependent on the dollar! Retail Sales — The headline retail sales report measures the monthly change in the total value of sales at a retail level. The core version of the report, on the other hand, excludes vehicle sales. The core account excludes food and energy prices because of their volatile nature.
The reason why you should look at this report is that this is the one that the Fed looks at when making decisions regarding monetary policy. And we all want to be in cahoots with the experts right? University of Michigan Consumer Sentiment — Every month, the University of Michigan releases its consumer sentiment report.
This index measures the attitude consumers have towards the economy. The more confident consumers are about economic conditions, the more likely they are to spend. What Moves the USD? The Gold Rush Whenever the dollar is at risk of losing its value due to inflation, investors turn to gold for safety.
Unlike most financial assets, gold maintains its intrinsic value. So when gold prices are rising, it could be a sign that the dollar is losing its appeal. Economic Developments in the U. Fundamentally, positive economic developments in the U.
An investor would, of course, need to have some dollars to be able to transact in the U. So as the demand for U. This provides the many kings, sultans, billionaires, and heirs around the world with many types of investments that they can choose from. In order to invest in these American assets, investors would first need to convert whatever currency they are holding into U.
So instead of taking profits, you trail your stop loss using the 20MA hoping to ride a bigger move. Now, there are variations of forex strategies for transition trading. The next question is… Which Forex trading strategies suit you best? So before you attempt to trade any forex trading strategies, you MUST consider these 3 questions… 1.
Do you want to grow your wealth or make an income from trading? This means you must trade the lower timeframes and spend more hours in front of the screen. The Forex trading strategies you can use are scalping, day trading, or short-term swing trading. For wealth: If you want to grow your wealth from trading, you can afford to have fewer trading opportunities.
This means you can trade the higher timeframes and spend fewer hours in front of the screen. The forex strategies you can use are swing trading or position trading. How much time can you devote to trading? This is a no-brainer. Instead, go with a swing or position trading forex trading strategy.
But, if you have all the time in the world and enjoy short-term trading, by all means, go ahead. Does this Forex trading strategy suit you?
Those 30 trades can be in a day, or a week. That depends on you how fast you can achieve 30 trades in a row. Here is the condition to have 30 trades in a row profitable, not one losing. This gives you a lot of space to make errors in trading. Compared to 30 good trades in a row this time period makes much more sense and makes it more reachable. Week as a Time Period in Compounding Plan If you have a week as a time period then you would have more freedom to make more bad trades because you could open more trades per week.
And then you would need 30 weeks to reach the target from the graph. Now it is up to you to decide which time period you would use. NOTE — I will not cover the monthly and yearly time period. The analogy is the same as described for a week time period. If you use a monthly time period you would need 30 months to reach the target. If you use a yearly time period you would need 30 years to reach the target. I assume that would be too long to wait, but it is up to you to decide.
Compounding Plan Strategy As a final step you need to decide how to use all steps explained before to start trading by using a Forex compounding plan. Strategy should include these steps: Step 1 — define currency pair for trading Step 2 — define lot size you will use Step 3 — define stop loss and take profit levels Step 4 — define risk per each trade, Risk:Reward Step 5 — define time period you will use in Forex compounding plan Lets now check each step so you know how to use this compounding strategy in Forex trading.
You can use this strategy if you want, but first test it on a demo account before trying on a live account. Currency Pair for Compounding Strategy Plan If you are beginner in Forex trading then you should learn how to choose currency pair for trading. Each currency pair has its own characteristics and you need to select those that are good for your trading strategy. In this article I am not showing which trading strategy to use. You can use technical analysis, fundamental analysis , price action analysis or any other.
It has moderate volatility and you can see trends which are good to follow to make money and to make less mistakes. When you have a currency pair for trading you can move to the next step and that is to define the volume or lot size you will use in each trade. If you want, you can learn what pip is, and how to calculate the pip on this website. Remember that lot size should be defined with the risk you will use on each trade and how many pips you will go for in each trade. I will explain this later with an example.
Define Stop Loss and Take Profit To define stop loss and take profit you need to have a trading strategy. Strategy defines entry and exit levels for each trade you open. In the Forex trading platform you have two fields where stop loss and take profit are defined. Check the image below. Risk:Reward In Compounding Plan Strategy Now you have come to one of the most important steps in compounding plan strategy. And that is to define Risk:Reward ratio.
Risk to reward ratio defines how much you accept to lose per each trade and how much you will make per each trade. In percentage. We can clearly see both the indicators indicating a clear buy signal. Here, we have gone for the third target and exited the trade as soon as we made 30 pips.
When prices hit the lower Bollinger bands, and the Stochastic indicated the oversold market conditions, we went long on this currency pair. We would have exited the trade at ten pips, but the market started printing continuous bullish candles, which made us wait for the prices to hit the third target. The entry was at the point where the prices touched the lower Bollinger Band, and the stop-loss is placed just below the recent low.
Since the higher highs were getting continuously printed, we went for the third target and exited the trade as soon as we made 30 pips. We went long in the Asian session on 28th Feb We had exited at the third target even when the market was moving up north. Rules For Going Short The market must be in a strong downtrend. Wait for the price action to slowdown at the upper Bollinger Band.
Let the Stochastic Indicator reverse at the overbought area. Only go short if the above two rules are satisfied. Place the stop-loss just above the upper Bollinger Band. We went short when the price action hit the upper Bollinger band, and the Stochastic indicated the overbought conditions.
The stop-loss is placed just above the upper Bollinger Band. We have gone for the third target, and the market printed a brand new lower low. This pair was in an overall downtrend, and on 25th Feb , we have activated the sell trade right after our sell criteria is met. We can see the market reaching all of our targets in just a couple of hours. The entry was at the point where the price action touched the upper Bollinger band, and the stop-loss was just above the upper band.
The reason we place the stop-loss there is because of the bands of the indicator act as a dynamic support resistance level to the price action. We took sell when both of the indicators lined up in one direction, and we booked profit at the third target. Sell trade was activated on Friday, 28th Feb, in the Asian session. When the Stochastic reached the overbought area and gave a sharp reversal, we saw the price action hitting the upper Bollinger band.
This essentially means that the market is ready to go down. Bottom Line In almost all of the cases, we have gone for the third target only and make 30 pips profits.
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