This article written by Andreas Witt was originally published in the January 2013 issue of Traders' Magazine.
- Andreas Witt has been studying the forex market since 1998 and has developed several strategies for different products, including a fully automated forex-strategy-software program (Expert Advisor). In addition he posts daily signals for a forex-platform and trades on his own account.
The most difficult thing of manual trading is certainly depending on yourself. You decide whether or not to enter the market. There is no predefined signal or system that shows you the right time for your entry, therefore it is essential to prepare each trading day accurately. In advance of trading a signal you should extensively analiyse the economic data and its emphasis, because not every event has an effect on the market. However, this approach is not highly complex so you can even be successful with this strategy if you are a trading beginner.
Editors’ Picks
EUR/USD holds steady above 1.0550 on modest USD weakness
EUR/USD struggles to gather recovery momentum but clings to modest daily gains above 1.0550 in the second half of the day on Monday. Although the US Dollar corrects lower following the previous week's rally, the cautious market mood makes it hard for the pair to push higher.
GBP/USD stabilizes above 1.2600 following previous week's drop
GBP/USD defends minor bids above 1.2600 in the American session on Monday, while the negative shift seen in risk sentiment caps the pair's upside. The Bank of England Monetary Policy Hearings and UK inflation data this week could influence Pound Sterling's valuation.
USD/JPY bounces back from 155.00 as BoJ Ueda avoids to provide rate hike timing
USD/JPY rebounds from 155.00 as BoJ Ueda didn’t provide specific timing for further interest rate hikes. Japan Kato warned of possible intervention to support the Yen against excessive volatile moves. Trump’s protectionist policies would accelerate US inflation and growth.
Editors’ Picks
EUR/USD holds steady above 1.0550 on modest USD weakness
EUR/USD struggles to gather recovery momentum but clings to modest daily gains above 1.0550 in the second half of the day on Monday. Although the US Dollar corrects lower following the previous week's rally, the cautious market mood makes it hard for the pair to push higher.
GBP/USD stabilizes above 1.2600 following previous week's drop
GBP/USD defends minor bids above 1.2600 in the American session on Monday, while the negative shift seen in risk sentiment caps the pair's upside. The Bank of England Monetary Policy Hearings and UK inflation data this week could influence Pound Sterling's valuation.
Gold benefits from escalating geopolitical tensions, rises above $2,600
After suffering large losses in the previous week, Gold gathers recovery momentum and trades in positive territory above $2,600 on Monday. In the absence of high-tier data releases, escalating geopolitical tensions help XAU/USD hold its ground.
Bonk holds near record-high as traders cheer hefty token burn
Bonk (BONK) price extends its gains on Monday after surging more than 100% last week and reaching a new all-time high on Sunday. This rally was fueled by the announcement on Friday that BONK would burn 1 trillion tokens by Christmas.
The week ahead: Powell stumps the US stock rally as Bitcoin surges, as we wait Nvidia earnings, UK CPI
The mood music is shifting for the Trump trade. Stocks fell sharply at the end of last week, led by big tech. The S&P 500 was down by more than 2% last week, its weakest performance in 2 months, while the Nasdaq was lower by 3%. The market has now given back half of the post-Trump election win gains.
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