The Federal Open Market Committee (FOMC) is a committee within the Federal Reserve System (the Fed). It’s mandate is to oversee the nation’s open market operations (i.e. the Fed’s buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about Interest Rates and the growth of the United States money supply.
On the 27th of January, the FOMC will hold their first Monetary Policy meeting of 2021, where they are expected to hold their Interest Rates at the current <0.25%. Planning is key, save these dates to make your trading year more organized. I recently posted an episode on my podcast about GOAL SETTING. The next episode will be on time about time management.
Below is the annual FOMC dates. Kindly share this post with anyone who may need this information. You can also subscribe to this blog for notifications on new blog posts. If you have an android device, you can also download the App on Google Playstore. Thank you for stopping by.
Addiction is a condition of being addicted to a particular substance or activity. In this instance we are referring to Forex trading as an activity. It is also very true that Forex trading can be easily turned into some serious gambling if a trader gets addicted to it. I have also seen that a person who has a gambling problem finds it challenging to succeed in Forex trading because gambling is all about crossing your fingers and just hoping for the best.
A person who gambles in casinos sees a slot machine whenever they look at charts and they get that adrenalin rush. Until they work on their gambling problem and overcome it, it is only then that they can see progress in their trading as well. I have had a few experiences with mentees who had a gambling problem that they had to overcome in order to start seeing great results in their trading. They all had similar challenges. This is not a fact, but just something that I have observed.
How Do You Know That You May Be Addicted To Forex Trading?
At some point in my life, I was also really addicted to Forex trading. I will list a few of my then issues and also most of them are the issues that most people struggle with. I will also share tips on how to overcome them. We know that addiction can cause unproductivity, break families, friendships or even ruin businesses and lead to debt. Forex trading addiction is NO different, it can do the same. Below are the most experienced issues.
You are constantly feeling like you might miss out on an opportunity if you take your eyes off your platform and therefore you stay glued to it the whole day. You treat your trading platform as a hang out spot.
You set your daily targets, but you can’t seem to stop even when you’ve made 5 times more, as a result, you always give all the daily profits back to the markets at the end of each trading day.
Every time you can’t sleep for whatever reason, you always go straight to your platform in the middle of the night to trade.
You are always checking out Forex forums or social media groups just to see what other people are trading and you follow everyone’s trades and disregard your own trading plan (if at all you have one).
You get super excited whenever you see anything with the word “Forex” in it and the word “strategy” excites you even more. You are always hunting for the new strategy. I went through all the above mentioned.
What Can You Do To Overcome it?
1.UNLEARN some of the things that you believe about Forex trading. You may be finding it easier to be addicted to it if you still believe that the more you trade, the more you make money.
2. Find something else to spend your free time on, get productive.
3. If you think that Forex forums/groups are contributing to your addiction, remove yourself so you can focus on your healing.
4. Avoid subscribing to every website that sends you daily signals, it can be really confusing and overwhelming.
5. Make up your mind and want the change, you have to want to change. You can do it, I know you can. I DID.
I hope these tips help. Thank you for stopping by. Kindly help me reach out to more people by sharing this post. Thank you and please take care of yourselves and stay safe.
Non-Farm Payrolls (NFP) is all about the number of jobs that the United States of America creates on a monthly basis. The stats are compared to the previous month and are released every first Friday of the month. There’s more to these stats though as we also have to look at the quality of jobs that were created. Those stats exclude the farming industry, hence it is called the non-farm payrolls. The first one was released at 3:30pm S.A time.
Hello readers & subscribers. If you recently subscribed to this blog, you’ve probably noticed that you haven’t received any new weekly publications (2020 has been hectic & overwhelming). If you just stumbled upon this blog, welcome, please do subscribe. The year 2020 has been rough for most of us. I know that in the beginning of each year, most of us have our plans drafted and how we would like to start a new year, we have our goals and we are usually looking forward to a new year. 2020 was no different, we had plans and goals. Some of the goals were reached and some weren’t. Some of the plans had to be halted or adjusted. A lot of people lost their lives, their job, businesses and livelihoods. There’s still a lot to be grateful for though. Having an opportunity to read this post, calls for gratitude just for being alive.
Desperation Left So Many People Vulnerable
There’s been a lot of financial uncertainties due to the struggling economies. A lot of people started to look for alternative ways to make money. Forex trading became one of those alternative ways. Most people started to hunt for online investment opportunities. Scammers have been having a “feast” with more people getting vulnerable for the fear of losing their businesses or jobs. It is unfortunate that even those who lost their jobs had to lose all their life savings from joining all these Forex “investments” scam companies that promised them higher returns with zero efforts. I must say that the FSCA has been doing a great job in investigating and shutting these companies down. Unfortunately, the losses may never be recovered. I also published a blogpost warning potential investors about Forex scams being on the rise since the Covid-19 pandemic. You may also like to learn how to verify any financial service provider, if they are authorized to offer investments packages to the public, check that information HERE, for the safety of of your funds.
Thank You, Thank You, Thank You
From the bottom of my heart, I thank you for reading my posts, I thank you for subscribing, I thank you for sharing my work, I thank you for downloading my App, I thank you for listening and following my Podcast and I thank you for enrolling for my private lessons, mentorship & coaching. (WhatsApp +27 78 144 6851 for available special offers on private lessons, learning how to trade for yourself is the best option). The plan was to publish at least 50 articles in 2020, I only managed to publish 31 articles. I am grateful for being able to do that under these circumstances.
Take Care
Please take care of yourselves, stay safe and wear your mask. I wish you a happy and a prosperous new year, not forgetting good health. May all your 2021 plans and dreams come to fruition. Let’s cross over safely and continue to dream and dream big. Remember, you are BLESSED & UNSTOPABLE. Cheers, till we meet again in 2021.
Today’s article was triggered by a study that I recently conducted among my followers, but mostly my mentees. I know that the study was not done among thousands of traders. This is not a conclusion or a fact, but rather what I have observed as an individual.
Why is there a few of us (female trader
As the years progressed, I have seen an increase in numbers of women who are interested in learning more about the financial markets. It excites me, this has been a zone filled with men for such a long time and a very lonely one for us (women). As a female trader myself, I still come across people who think I cannot excel in this simply because I am a woman. Some people will even go as far as saying things like “We thought you were just blogging and there’s a man behind all this great work that you do”. In short, I still get undermined by men in this field and also by fellow women. This post is not about putting men or women in a certain box on how they should behave or how they act. It is also not about who does it better between men and women in trading. This is just my observation (I just got tempted to use my favorite word “Nje”). This is just my own observations.
What I have noticed about male traders
My mentees are so gonna kill me. I might as well just hide after this post. But again, they know how much I love them and how I am always straight forward with them.
Most of them were a bit skeptical in the beginning just before they enrolled for my private lessons. The fact that I am a woman is still an issue for some (not all of them though)
When they finally enroll for my private lessons & mentorship, there’s something that they mostly struggle with. They hate to admit when they are wrong and therefore take longer to realize that they are actually in a bad trade and they need to do something about it. They love being right or correct all the time.
They are likely to ignore my teachings and just do their own thing. This is simply because men are not like us. We like to hide stuff from our friends for the fear of being talked about. We love to keep to ourselves and never share everything with our friends. Most men are likely to share with their homeboys and play around with different strategies and take tips from friends (which usually ends in huge losses). They can hardly focus on one strategy.
They mostly have that urge to want to trade even when there aren’t really any trading opportunities
Just like most guys love speedy cars, most of them do love speedy profits as well. Higher lot sizes that cannot be handled by their accounts are their biggest challenge. They are mostly chasing quick results and sometimes I may appear too conservative for their liking. They have a general lack of patience (not all of them)
They struggle to communicate effectively with their mentor (me) and they are mostly too shy to cry out for help.
They prefer to sit in their corner and drown in losses instead of asking for help. Mostly, I only find out when the mess is too big that they actually messed up. That is one thing that delays their progress. Slowly, but surely, they are coming to the “party” and as a mentor I think I am winning.
Their bravery can sometimes be their demise.
What I have observed about us (female traders)
There’s something about us and patience. We can be extremely patient and understand that things may take longer to materialize. When women enroll for my private lessons, they mostly speak the same language. They talk about how they are willing to nurture their accounts and grow them from strength to strength. They also do love the fact that I won’t teach them to trade the whole day and night. They love the fact that they’ll still be able to take care of their families, go to work and pursue their other interests while trading the financial markets. You know what I love the most about women traders? We are not interested in letting all our friends know what we are up to. That is one thing that we do best. Some of us learned the hard way and decided never to announce our plans to our friends. Here are some of the things that I have observed about most female traders.
They usually do not believe that they can actually be the best
They question and undermine their own intelligence a lot
They are too careful and it makes them to doubt their decisions for the fear of losing money. They cannot separate being careful and being too scared.
They are likely to move slower than they should. They feel more than they do. But they are likely to be more sustainable than male traders.
They are likely to stick to my teachings because no one in their circle really knows that they are also trading, therefore they hardly join trading groups or take tips from outside sources. They do not have that kind of pressure that men are mostly exposed to. That on its own has contributed to their success rate and how they manage to keep it real.
They do not have that urge to trade every hour (well, most of them)
They are likely to keep the profits because it is in our nature to care and nurture anything
They are not about doubling accounts every second day, they are more about growth month after month.
I almost forgot to tell you about these women under my mentorship, I have found sisters in them. We share more than what actually brought us together. It is also the case with the guys, we have that brotherly/sisterly relationship and great friendships. OK, back to my wishes now.
If I could cut and paste
My wish is for male traders to think like men, be more patient and trade like women. My wish for female traders is for them to have a little dose of bravery (not all of it, just a little) have more confidence and trade like women. Did I just say female traders are better traders than male traders? YOH! I don’t know. What do you think? Remember these were just my own observations from my group of traders. What’s your thought? I would like to hear, kindly leave a comment. I thought I should just pop in and have a long chat with you, nothing serious but just a chat on what I have observed. This post is not for education purposes, it was just a chat. Also note that not all men or women are as described. Maybe, just maybe learning from a women will make a difference. Thank you for stopping by.
I recently started a podcast not only because I love talking (Of course I love talking, I really do) but because I thought it will also be another great and awesome way to share my message and also to put the voice behind all this writing that I’ve been doing here. As a teacher/mentor & coach, I have learned through my mentees that some people get the message better through listening than reading. Check it out HERE. You can also download the App where I post weekly tips on trading psychology and also to have this blog right at your fingertips.
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