Hello Subscriber, If you are not yet a subscriber, please subscribe so you can receive notifications on weekly economic news and other publications. This week we have 16 major economic releases.
Always understand that the markets do not move randomly, they are affected by such economic news. Incorporating fundamentals into your day trading helps you plan your trading week, spend less time studying charts day and night and be able to trade while having your 9-5 job, school or a business. I have published an episode on my podcast titled “why you shouldn’t ignore fundamentals” you can listen HERE.
If you live in South Africa, you are aware that we are facing a big challenge with our electricity and have daily load-shedding. During load-shedding, the network gets affected and we sometimes experience a very slow internet connection.
When you have incorporated fundamentals, you can also plan around it and ensure that you don’t schedule any trading sessions during that time. This is to avoid a situation where you find yourself stuck in trades. If you have been trading but only relying on technical analysis and wish to start incorporating fundamentals and to learn how the markets work, WhatsApp +27 78 144 6851 to enrol for my fundamental analysis course, mentorship and coaching. You can also listen to my latest podcast episode HERE.
Kindly share this app with your peers. Below is our weekly economic calendar. Thank you for stopping by. Happy trading.
Hello Subscriber, If you are not yet a subscriber, please subscribe so you can receive notifications on weekly economic news and other publications. This week we have 10 major economic releases.
Always understand that the markets do not move randomly, they are affected by such economic news. Incorporating fundamentals into your day trading helps you plan your trading week, spend less time studying charts day and night and be able to trade while having your 9-5 job, school or a business. I have published an episode on my podcast titled “why you shouldn’t ignore fundamentals” you can listen HERE.
If you live in South Africa, you are aware that we are facing a big challenge with our electricity and have daily load-shedding. During load-shedding, the network gets affected and we sometimes experience a very slow internet connection.
When you have incorporated fundamentals, you can also plan around it and ensure that you don’t schedule any trading sessions during that time. This is to avoid a situation where you find yourself stuck in trades. If you have been trading but only relying on technical analysis and wish to start incorporating fundamentals and to learn how the markets work, WhatsApp +27 78 144 6851 to enrol for my fundamental analysis course, mentorship and coaching. You can also listen to my latest podcast episode HERE.
Kindly share this app with your peers. Below is our weekly economic calendar. Thank you for stopping by. Happy trading.
Trading psychology refers to the emotions and mental state of a trader. It determines a trader’s success or failure. In my simplest explanation, trading psychology is how you behave in the markets. If you can fix your behaviour and how you handle yourself in the markets, you can see great improvement. Most traders lose money because of their behaviour and not their strategies.
I have published an episode on my podcast titled “the importance of personal development” because working on yourself is crucial. You have to keep your trading psychology in check at all times and working on yourself should be an ongoing thing. In this post, I will be tackling 5 ways to help you to master your trading psychology. Without further ado, let me get straight to it.
1.Greed
Most traders struggle with greed, I struggled with greed a lot as well. A trader who is controlled by greed tends to make risky and uncalculated decisions and as a result take huge losses. On a very good trading day, a greedy trader makes a lot of profits but gives it all back to the markets and has nothing to show for it at the end of the day. Profits go as far as account history but they are never kept. If this is you currently, you need to focus on working on this.
2.Fear
Fear is not bad and it is an emotion that alerts us of danger. Fear is bad if you allow it to control you. As a beginner trader, you will definitely feel fearful. Just like a new driver feels scared to drive on the road alone, a beginner trader feels the same. If you buy a car after obtaining a driver’s license and just park in nicely in your garage because you are scared, you’ll never master driving.
You can only master driving if you drive alone on the road and even if you can scratch your new car, you continue driving it and eventually you will stop scratching it as the fear subsides and you get used to driving it. It is the same with trading, you have to be actively doing it and that’s how you get rid of fear and gain the necessary experience.
Traders who are fearful are likely to close good trades prematurely and try by all means to avoid risk. You cannot avoid risk but you can manage it. If you want to completely avoid risk, you should not even think about being a trader. You may like to listen to this podcast episode on how to manage your money.
3.Detach From The Money
Detaching from the money may sound like I am saying do not care for your money. That is not what I am saying, what I mean by detaching is that do not stress much about making huge profits right away but rather focus on getting it right even if you break even. When you are too attached to your money, this becomes impossible to do.
I also do not encourage traders to trade with the money that they need for rent, school fees etc. or even trading with borrowed money. All these add unnecessary pressure which may lead to making countless mistakes. As a trader, you want to be as relaxed as possible. If let’s say you have R10 000 and it’s you last money, do not fund your account with all of it. Split it into half and use the other half to create an income while you trade with the the other half. You stress less when you have cashflow and you can then nurture your account and allow it to grow. You attract more money when you don’t stress about it.
4.Keep A Trading Journal
A trader who keeps a trading journal is an organized trader. A trading journal allows you to “take stock” of your trades, plan your trades, stick to your trading plan and also to keep track of your progress. It helps you create a roadmap that you can review and see where you need to improve. I have published a digital trading journal and is currently on special, you can WhatsApp +27 78 144 6851 to purchase (DO NOT PURCHASE ONLINE, The price is NOT YET UPDATED)
5. Regret
Regret keeps you unhappy. You always regret missing an opportunity, you regret placing a trade, and you regret closing it. I always tell my mentees that remaining happy is very important. Be happy when you make a lot of money, be happy when you are not making much, also be happy even when your trade goes against you because even though you may not control what happens in the markets, you can always control yourself and manage your funds and operate your account like a business and apply basic business principles.
Check out my money management course that will teach you how to manage your trading account like a business and never experience a margin call. Enrol and start learning right away. You can listen to the audio version of this post HERE.
Thank you for stopping by. Kindly share this post and help me reach as many traders as possible. Don’t forget to subscribe for notifications on future publications. Download the APP for your weekly economic news updates and the mindset of the week to help you keep your trading psychology in check. These are EXCLUSIVELY posted on the app.
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. Interest rates are very important in currency evaluation. Read more about Central Banks and Interest Rates HERE.
On the 1st of February, FOMC will hold their first Monetary Policy meeting of 2023 where they are expected to hike their Interest Rates by 25 basis points, taking them to 4.75% from 4.50%. Planning is key, save these dates to make your trading year more organized. I have published 2 episodes on my podcast about beginning with the end in mind, you can LISTEN here and why I do not ignore fundamentals in my trading, LISTEN here. Since we are on planning, you can also check out this blogpost on how to prepare for your trading year. Read HERE.
Below are the FOMC 2023 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. For private lessons on how to trade FOMC, WhatsApp +27 78 144 6851. Thank you for stopping by.
Non-Farm Payrolls(NFP) also known as Employment Change is all about the change in the number of employed people during the previous month. These stats exclude the farming industry hence it is called Non-Farm Payrolls. The stats are usually released every first Friday of the month, after the month ends .
Why Do We (traders) Care About NFP?
NFP is an important data from the United States which is the leading indicator of consumer spending which is highly linked to the improved economic activity. Planning improves one’s performance. I always plan ahead because I hate being random. The first NFP of 2023 is on the 6th of January. Below is the Non-Farm Payrolls 2023 dates. Should you wish to learn how to trade NFP, WhatsApp me on +27 78 144 6851 for a quote.
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