User Case Study: My Daily Routine using Forex Source
"Everyday, at about 11:30 a.m. in London time, there is a live analysis webinar where the analysts from the terminal talk you through what is the risk sentiment, what important things are happening in the market, and what we should be looking out for in terms of possible tradable sentiment shifts."
-----
We interpret and explain price moves in real-time, 24 hours a day. Our team of analysts produce text, video and audio commentary.
You understand the markets and trade with confidence.
Learn more at our website here: https://bit.ly/2HFykNd
-----
So, this week I wanna get into what is my routine during the day when I'm trading, as well as, an example of how I applied this, this week.
In the mornings, the first thing I do is I open up my Forex Source terminal, I actually do it on mobile, which works pretty much the same. I go into the live analysis.
So everyday, at about 11:30 a.m. in London time, for me, that is 5:30 a.m., there is a live analysis webinar where the analysts from the terminal talk you through what is the risk sentiment, what important things are happening in the market these days, and also what we should be looking out for in terms of possible tradable sentiment shifts. So, my routine is as follows.
First, I will have an alarm, I wake up at 5:30. Immediately, while I tune in to the live sentiment analysis of the day. And then, after watching that, I know what to look out for in the rest of the day. And now, depending on what kind of thing is moving the markets, I have to either schedule my day accordingly to the releases of events, or if it's more on the geopolitical side of things, politics and things that aren't scheduled, I have to stay tuned to the market most of the day, at least whenever I have an open position.
The way I do that is I wear headphones, and I have the Forex Source terminal on somewhere in the background, I can work on other things. And whenever I hear something important come across the wires, I can either place a trade or close a trade depending on what the situation is. And of course, in the case of macro economic events, they are very clearly scheduled, so for me to do that is a lot easier. So when the thing that's moving the market is, for example, an NFP, or some kind of employment report, or other macro economic data, which are released in a very specific time.
For example, on Friday, we had the NFP coming out of the US, so, in the terminal, you will get a report showing what the market's expectations are. And based on this, I prepare a couple of trades saying, if it's a very good employment report, I'll pair it up against a weak currency. And if it's very weak, I'll pair it up against a very strong currency. And I'll have these two set up there based on my analysis.
The consensus is of a print of 164, and if it comes below 125 or above 266, it's a clear deviation, and a very easy trade to place right in that moment. Half and hour before the news actually comes out, I prepare all my trades. I put myself into the context, thanks to this analysis that is posted before these important events in the terminal.
When the time comes along, I usually squawk in order to get the news pretty early, pretty much exactly when it does happen. But, there are other cases that are things that are a little bit less data driven and more political, which also can be a huge market mover. There's things that are released pretty much without schedule, but, if you know that these things are heavily moving the markets, you can be tuned in, just with some headphones, have it on in the background, and you can catch certain moves.
As long as you're tuned in to the market, via the squawk, and via the terminal, and via the context that you get from the live analysis webinar.
Another thing that does keep you in context throughout the trading session, periodically, throughout the day, the analysts release short videos. They tell you where the market is right now, what are some possible good entry points on the dominant currency sentiment of the day. And it really helps to put you in context as to what has been happening.
Without a tool, such as the Forex Source terminal is kind of hard, because you don't get the news immediately, you're not sure what are the catalysts in the market, what the market is actually paying attention to.
Other things that I do is that once a week, whenever they update here the currency research tab, we know in the week ahead, what are top trading opportunities. What are the things that are driving each currency as well as, for example, the current relative strength of each currency.
All in all, I'm very happy with the service of this Forex Source terminal because they really help me stay in context, they help me stay informed. That is my daily process, that is the way I use the terminal.
----
If you find this content helpful, you’ll love Forex Source.
There’s a link below were you can learn more about it https://bit.ly/2HFykNd
-----
We interpret and explain price moves in real-time, 24 hours a day. Our team of analysts produce text, video and audio commentary.
You understand the markets and trade with confidence.
Learn more at our website here: https://bit.ly/2HFykNd
-----
So, this week I wanna get into what is my routine during the day when I'm trading, as well as, an example of how I applied this, this week.
In the mornings, the first thing I do is I open up my Forex Source terminal, I actually do it on mobile, which works pretty much the same. I go into the live analysis.
So everyday, at about 11:30 a.m. in London time, for me, that is 5:30 a.m., there is a live analysis webinar where the analysts from the terminal talk you through what is the risk sentiment, what important things are happening in the market these days, and also what we should be looking out for in terms of possible tradable sentiment shifts. So, my routine is as follows.
First, I will have an alarm, I wake up at 5:30. Immediately, while I tune in to the live sentiment analysis of the day. And then, after watching that, I know what to look out for in the rest of the day. And now, depending on what kind of thing is moving the markets, I have to either schedule my day accordingly to the releases of events, or if it's more on the geopolitical side of things, politics and things that aren't scheduled, I have to stay tuned to the market most of the day, at least whenever I have an open position.
The way I do that is I wear headphones, and I have the Forex Source terminal on somewhere in the background, I can work on other things. And whenever I hear something important come across the wires, I can either place a trade or close a trade depending on what the situation is. And of course, in the case of macro economic events, they are very clearly scheduled, so for me to do that is a lot easier. So when the thing that's moving the market is, for example, an NFP, or some kind of employment report, or other macro economic data, which are released in a very specific time.
For example, on Friday, we had the NFP coming out of the US, so, in the terminal, you will get a report showing what the market's expectations are. And based on this, I prepare a couple of trades saying, if it's a very good employment report, I'll pair it up against a weak currency. And if it's very weak, I'll pair it up against a very strong currency. And I'll have these two set up there based on my analysis.
The consensus is of a print of 164, and if it comes below 125 or above 266, it's a clear deviation, and a very easy trade to place right in that moment. Half and hour before the news actually comes out, I prepare all my trades. I put myself into the context, thanks to this analysis that is posted before these important events in the terminal.
When the time comes along, I usually squawk in order to get the news pretty early, pretty much exactly when it does happen. But, there are other cases that are things that are a little bit less data driven and more political, which also can be a huge market mover. There's things that are released pretty much without schedule, but, if you know that these things are heavily moving the markets, you can be tuned in, just with some headphones, have it on in the background, and you can catch certain moves.
As long as you're tuned in to the market, via the squawk, and via the terminal, and via the context that you get from the live analysis webinar.
Another thing that does keep you in context throughout the trading session, periodically, throughout the day, the analysts release short videos. They tell you where the market is right now, what are some possible good entry points on the dominant currency sentiment of the day. And it really helps to put you in context as to what has been happening.
Without a tool, such as the Forex Source terminal is kind of hard, because you don't get the news immediately, you're not sure what are the catalysts in the market, what the market is actually paying attention to.
Other things that I do is that once a week, whenever they update here the currency research tab, we know in the week ahead, what are top trading opportunities. What are the things that are driving each currency as well as, for example, the current relative strength of each currency.
All in all, I'm very happy with the service of this Forex Source terminal because they really help me stay in context, they help me stay informed. That is my daily process, that is the way I use the terminal.
----
If you find this content helpful, you’ll love Forex Source.
There’s a link below were you can learn more about it https://bit.ly/2HFykNd
