Practice! (Part 1)

Practice, Practice, Practice…

Is that what we’re talking about?!

Yes, we’re talking about practice. You can’t decide “I’m going to play in the big leagues” and think you have the goods to make it happen, no matter how much you want it! Not only does it take raw talent, but it takes practice, lots of practice, to make it happen and to succeed. You need to practice honing your skills in order to become proficient as a day trader.

Yes, just like any other profession, whether it be a lawyer, a doctor or an architect, in order to succeed, you need to have your feet in the fire. It doesn’t matter if you’re day trading for the first time, part-time or full-time, you always need to be honing in your skills at reading the market.

Knowing when to enter on your trades is absolutely critical to your success. When you’re trading a system, you want to be familiar with the “bells and whistles” of that system; how it reacts to market conditions.

You may say, “Well I don’t have a system”. If you don’t have a trading system plan each time you sit down for a profit making session, then that session will be nothing more than going to Vegas, sitting down at the Roulette table and placing your money on red. Red will be all you’ll see because you’ll end up losing all of your green (money).

Don’t put yourself in this position of anger and frustration. Make certain you are comfortable and familiar with the system you are trading. Now, does this mean you’re going to win every trade? No way, Jose…it just doesn’t work that way, but the real question is…”Can I be in the money and make winning trades 75, 80, 90% of the time, on a consistent basis?

Absolutely you can! But you need to have a plan, a system and practice that plan. Just like all other amateurs, pros (or anyone in between), you need to have that practice under your belt to get the feel, understanding, experience and knowledge necessary to succeed and earn profit on nearly every trading session you do.

You may also ask, “Does practice cost money?” The answer is yes and no. First, the “no”. It does not cost “real” money, if you practice on a “demo” account. With the brokers that we may recommend, they all provide you the opportunity to open a practice account or what’s called a “demo’ account that allows you to put your plan in place with “play” money. Now for the yes part, most broker’s require you to open and fund a live account with them before you receive access to a “demo” account. Hopefully, when you trade your live account you will have had enough practice to be proficient, so that it is not costing you money, but that you’re regularly making profit.

When you open and fund an account, the broker will make available a free demo account (at least for a period of time) so that you can familiarize yourself with the platform and their setup. Take full advantage of utilizing the “demo” account. Dive in and do it! This is the way you will gain experience, hone your skills and get proficient as a day trader. You will be better prepared to recognize trends, patterns and market movement as they develop.

Check out one of our proven Small Money Made Big winning trading systems. As always, they are very affordable, unlike other systems that can cost you $100, $200 and up to $1,000…and guess what?? Most of these expensive programs don’t even work effectively, which end up costing you even more money.

Subscribe to Small Money Made Big to keep updated with weekly market news that keeps you “in the loop”, along with helpful tips and strategies that keep you in the money, time and time again.

So remember, there is no magic pill…it takes practice and a winning system in order to be successful. But can you think of any other business opportunity that allows you such an enjoyable way to earn profit and doing it in less than a couple of hours a day?

THAT’S what we’re talkin’ about! PRACTICE!!

Trick or Trade!

Currency Market News – October 26 thru 31, 2014

Trick or treat, give me something good to trade! Helter skelter mood swings are afflicting many aspects of the financial sector. Whether it be stocks, currencies, commodities, or anything in between, it appears that the markets are having a difficult time determining if it’s bulls or bears that are gaining the upper hand.

Will the bulls push through or are the bears making their move? Either way, this is the time to be in on your tech trades as you follow the market being impacted by the fundamental news and events that keep fueling volatility.

On to this weeks major market news events that will have an impact on your currency trading week.

First, for the Asian markets:

The Yen – Year over year retail sales . Will Japanese spending tighten on the heels of weak economic news? We may anticipate that this could come to fruition as we march on to the end of 2014.

Monetary Policy Statement and Bank of Japan Press Conference. It doesn’t appear that the BOJ will act now, but we may see an acknowledgement that adjustments in previous growth projections may be in order.

We may also see the Yen growing weak against your major currency pairings. A predictable trend may continue to reveal itself as the news is released later on this week.

China – At then end of this week, we’ll see the release of Chinese Manufacturing PMI that we anticipate will hold steady with the forecast hovering at 51.1.

The Kiwi – Business Confidence Measurement; we may anticipate a continuing trend of fading confidence. This is due to a teetering on policy debate that could lead to a stumble as we approach the end of 2014.

New Zealand’s Official Cash Rate and Rate Statement. We anticipate no change in the cash rate of 3.5%, until some time at the beginning of next year’s 2nd quarter. Of course, this will all be contingent on the ongoing developments in the global economy and the demand’s placed on commodity prices.

The Aussie – Quarterly PPI released later on this week.

The Euro – The results of the European Central Bank’s “stress test” will be revealed. It appears that German Banks may be on firm ground, but the same cannot be said for others such as Greece, Austria, Portugal and Italy. Judgment Day is here for the euro zone and we wait to see how the test may stress the markets.

German Ifo Business Climate – This business index looks to stay positive in spite of a sluggish euro zone. The euro is looking to grasp on to any shred of good news to boost sentiment. The German’s are feeling the impact of euro zone weakness and are not quite on board with the ECB perspective on monetary policy, but the euro is looking to latch on to any hints of optimism and German business may be the only ray of light shining.

Euro year over year CPI Flash Estimate announcement.

It’s a slow release week for the U.K., but we will be sure to see movement on your Sterling pairings based on the revelations of the ECB “stress tests” and the Euro’s reaction to how strong the major player’s can stand under scrutiny.

For the Loonie – Bank of Canada Governor Poloz speaks. We don’t expect to hear any hints of a rate increase in the near future as things are anticipated to stay put for now.

Month over month GDP output looks to be meager and will most likely have a slight uptick from the forecast of 0%.

News events pertaining to last week’s Ottawa shooting may have a lingering impact on the loonie.

The USD – Month over month Core Durable Goods Orders that may edge up from last month’s adjusted figure of .4%.

Consumer Confidence may also be edging up as American’s look to have a cheerful face for the approaching holiday season.

The Fed Statement, Federal Funds Rate and Fed Chairman Yellen speaks. We look to see with a watchful eye if any significant verbiage hints towards a more hawkish approach on an interest rate hike that will be looming for some time in the first quarter to the middle of next year.

With Q.E. ending, will the U.S. continue to gain traction as the end of the year holiday season numbers hope to perk up?

Quarterly Advance GDP that could see a dip from last quarter’s adjusted figure of 4.6%.

Unemployment claims that are looking to edge downward from last week’s figure of $283k.

The ECB’s “stress test” may reveal itself to have a few failures, but may not be as “spooky” as the results were three year’s ago. At the same time, the news may have you doing the “monster mash” for the week of trick or treats, but expect to have plenty of something good to trade.

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Volatility is back…

…and we like it – Market news 10/20 thru 10/26

Guess who’s back?…Ahhh, the sweet sound of volatility is music to my account. Volatility is back and that’s the way we like it! The swings in the market are creating fantastic opportunities to make handsome profits. Big pippin’ days of profit are here again.

Of course, this is contingent upon reading the markets accurately. This is the time to hop on and ride the wave of predictable volatility on many of your major currency pairings.

Whether it be fast turnaround expiries on your binary option trades or gleaning big time pips off of your forex exit points, it is an exciting time to be trading.

This was an awesome week for glorious trades that should’ve had you “in the money” over and over again.

If you have yet to experience the thrill of consistent profits I encourage you to learn more about our winning Small Money Made Big trading systems below. They are inexpensive and signal your best opportunity for profit making trades. Also order our free e-book “The Simple Art of Trading” that will provide the valuable psychological edge on having a plan of action for success.

Now onto this week’s news highlights that will have an impact on your currency and commodity trading week:

  • China’s quarterly GDP and year over year Industrial production. Chinese production may see a steady slow down as overall global demand continues to weaken and could see GDP fall below the forecast of 7.2%.

Growth will continue to be a struggle behind the back drop of less than stellar data from euro zone, Asian and western economies.

HSBC Flash Manufacturing PMI – The index may reveal itself to be a hair above 50, but there would be no surprise to see it a hair below as we could see signals of contraction on the Asian horizon.

  • The Aussie – Monetary Policy Meeting Minutes – Will the release of meeting minutes reveal that the RBA (Reserve Bank of Australia) continues to send mixed messages regarding future rate increases?

Quarterly CPI – The Aussie CPI figure looks to be in check and in line with the previous measurement of .5%.

RBA Governor Steven speaks – He may hint towards a bit of tightening that may prove prudent in housing market lending. As the hot housing market may see some cooling, limiting over exposure may be be key by limiting loan-to-values and reviewing bank stress tests against any down turn swing in the housing market.

  • The Kiwi – New Zealand’s quarterly CPI and Trade Balance – The Kiwi may be longing for commodity inflation that will help ease pressure. At this point, even though the annualized CPI is anticipating to hit the over all target rate, it appears that the current down pressure may continue to remain for the time being and haunt the Kiwi.
  • The Euro – French and German Flash Manufacturing PMI. Both of which will continue to see contraction, but could be edging up a bit in spite of sluggish growth that continues to plague euro zone economies. The euro zone PMI releases will dominate this week’s euro pairing movement.
  • The Sterling – The MPC Asset Purchase Facility Votes  and Official Bank Rate Votes – These minutes should reveal that the vote holds steady on asset purchases.

Month Over Month Retail Sales – Could we see retail sales dragged down by the hard pressed euro zone economies? Most likely, the impact will be felt through the remainder of the year as euro zone developments could cloud any rays of sunshine in job and wage growth, that may be attempting to streak through.

Quarter over quarter Preliminary GDP.

  • The Loonie – Canadian month over month Wholesale Sales, Core Retail Sales and Retail Sales. All of which may reveal slight weakness from previous month’s figures.

BOC Monetary Policy Report, Rate Statement, Overnight Rate and BOC Press Conference which we can anticipate staying steady in light of economic market concerns. Caution will reign supreme.

  • For the USD – Existing Home Sales that are looking for a slight rebound from last month’s figure of 5.05 million which missed the mark.

Month over month Core CPI and CPI

Unemployment claims that are looking for a downward stretch closer to 250k.

New Home Sales – We look to see numbers hedge lower than last month’s actual figures of 504k but will be around the forecast target of 473k.

Volatility is here for now and that’s the way we like it. This has trader’s, like yourself,  dancing with countless opportunities for profit.

Always stay tuned to Small Money Made Big for market news that affects your trading week.

Look to our news calendar for fundamental factors that will impact your technical trades. Click on our Small Money Made Big winning trading system’s below that will signal the best opportunity for profit and have you “in the money” time and time again.

 

 

Market News Update

This week’s market news 10/12/14 thru 10/18/14

As we go through this last quarter of 2014, will we see the U.S. economy dancing with itself? Or will U.S. stock market “corrections” have the bear necessities singing their tune? Will the Aussie’s economy begin heating up and join the party? The data from weak economies in the euro zone, Asia and the like could also place downward pressure on both the USD and the Aussie.  Let’s take a look at what the releases have in store for this week’s economic news events, that will have an impact on your trading week:

  • China’s Trade Balance – Keep an eye on the reaction for the Aussie if we see China’s trade balance on the down side. If this is the case, we anticipate seeing downward pressure on the Aussie. Due to the export/import trade connection with resources between the two countries and how it affects the Aussie this could lead to a cooling of the hot housing market and upcoming employment figures. Also, the year over year CPI release that is anticipated to hit its forecast of 1.7%.
  • For the Aussie’s – Business confidence – The interconnection and reliance on China’s resources for the Australian economy has the potential to see a fading confidence if China’s trade balance figures come in on the down side.
  • For the Kiwi – The Global Dairy Trade release
  • The Euro – With the German Economic Sentiment release, we will see how this will affect the euro pairings. We will also see how German opposition and political tension is affecting ECB President Draghi’s push towards Q.E. We may see a trend towards waning optimism in the German economic future as factory orders, exports and industrial output have taken a down turn. All this while the cost of living is expected to see an increase. As President Draghi speaks, take note and see if he is able to shed optimistic light over the darkening shadow of economic weakness that looms over euro zone economies.
  • For the Sterling – The U.K.’s release of year over year CPI where we may end up seeing a decrease in the year over year inflation number and slightly lower than the forecast of 1.4%. Also, the Average Earnings Index and Claimant Count Change. The cost of labor appears to be, fractionally, on the rise and jobless claims are anticipated to see a fall which, in turn, signals growth in the U.K.’s labor markets.
  • For the Canadian loonie – Month over month Manufacturing Sales  and Core CPI figures are released, respectively. As we anticipate a contraction for shipments and factory sales from last month’s figure of 2.5% and the CPI figure could see itself with the same figure as last month of .5% in spite of the forecast figure of .1%.
  • Last, but not least is the USD – With a busy latter part of the week chalked full of releases that will affect your USD currency pairings look for:

Month over month Core Retail Sales, PPI and Retail Sales -Even though we saw a drop in light vehicle sales and lower gas prices, the overall indicators should prove solid and add a bit of steam to the growing strength of U.S. economic numbers.

Philly Fed Manufacturing Index – Once again, business conditions for the overall U.S. economy should post positive and has the potential to exceed the forecast by remaining in the twenty point plus range.

Building permits – which look to jump higher than the previous month’s figure.

Fed Chair Yellen speaks – If the stock market corrections stay in check, we may be able to extract tid-bits of cautious optimism. This will bode well towards available business opportunities that look to confirm the signs of a recovering economy that hopes to gain steam going into 2015.

University of Michigan Consumer Sentiment – As we continue to see the U.S. economy forging ahead, we can anticipate that consumer’s confidence will be sparked for the holiday season and spilling over into the approaching new year. This may be the case as long as the mixed messages of what could be labeled as stock market “corrections” remain in check. This will have American’s happy to make snow angels throughout the U.S. winter season and beyond.

Be prepared to ski the slopes of trading success by always staying in touch with making your small money into big money!

 

Economic Update

The U.S. Economy Busts a Move – October 6 – 11 2014

The U.S. economy starts to “bust a move” as it continues to “shake off” the rust of slow growth and recovery.

The USD is flexing its’ economic muscle as indications of recovery are starting to come on strong for the last quarter of 2014.

The U.S. economy looks to continue this pace against its Asian, Euro and U.K. counterparts that may bode sheepish against the U.S. in the absence  of significant economic strength for their respective pairings.

This last week, European Central Bank President Draghi announced the general parameters for the euro zone’s version of Q.E.

The program will begin its’ purchasing program in the middle of October and will be ongoing for the next couple of year’s.

We’ll see how well received the program will be for market trader’s as the ECB takes a “hands on” approach in stimulating euro zone economies.

This week’s significant market news might be a bit light in comparison, but expect a bevy of profit making opportunity on your USD and Asian market pairings.

This week’s events include:

  • For the USD – The Fed’s September minutes release. The release is expected to hold true to what has already been announced in regard’s to forward guidance on interest rate hikes and the final tapering of Q.E.

            The 10 year bond auction, although not on high priority alert , may also  reveal an investor confidence boost that may show a strengthening impact on the USD.

            We can anticipate seeing the U.S. weekly unemployment claims continuing in an overall downward trend heading into the holiday hiring season.

 

  • For the Euro – ECB President Draghi holds court this week as we look to see if further plans are revealed for the ECB’s vision for its’ asset purchasing program. President Draghi may be putting a blase attitude towards euro economies, but this appears to be a calculated front in order to diminish the significant realities of weakness that continue to sting euro zone economies.

 

  • For the loonie (CAD) – Ivey PMI will be released. This early  number for the Purchasing Manager’s Index should meet forecast expectations of 53.4.

Month over month building permits. With the oncoming winter month’s approaching, we may anticipate  the month over month projection to hold level, but can look ahead to a small stumble next month as seasonal adjustments roll in for the winter month’s.

The employment change and unemployment rate – With construction sectors shedding its summer skin, will the retail sector be enough to offset the employment numbers as holiday hiring is underway?

 

  • For the Aussie (AUD) – The Cash Rate, expected to remain untouched and the Reserve Bank of Australia (RBA) Rate Statement announcement as we look to clues on forthcoming monetary policy and interest rate decisions. The rate looks to remain steady at 2.5% well into the first half of 2015.

Employment change and unemployment rate – As the forecast is for the Aussie economy to shed  a few jobs, we may see a slight uptick in unemployment from the previous month heading into the holiday season.

 

  • For the Kiwi (NZD) – The Business Confidence announcement looks to cautious optimism going forward for the remainder of this year.

 

  • The Sterling – Month over month manufacturing production that could indicate a slight contraction from the previous month.

Asset Purchase Facility and Official Bank Rate announcements which are both expected to remain steady.

 

  • For the Yen (JPY) – Japan’s monetary policy statement and Bank of Japan (BOJ) press conference.

The BOJ will be navigating a justification for their overly optimistic inflation numbers to hit their target. The BOJ is confronting a “headwind” of weakening numbers spawned by the tax hike that had taken place in April.

We’ll have to see if the BOJ’s somewhat skewed perspective can “shake off” market concerns , at least for awhile. Japan’s hope is that job sector and income growth will carry the load into the first half of 2015. This may not be enough to cloud the real picture of Japan’s economic woes as the numbers come into focus.

 

Now that we’re in the last quarter of the year, take advantage of the opportunities that are starting to become self evident with the USD and Asian pairings. The revelation of these market disparities look to bring you many opportunities for profit making trades that will deliver holiday happiness any way you slice it.

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