New frontiers in currency trading

New frontiers in currency trading

New frontiers in currency trading

It's a new world in currency trading. We as currency traders are seeing history unfold in front of us. The traditional drivers of price, demand and supply have been replaced. The carry trade is gone for now, and interest rates are basically taking a back seat toother geopoliticaland socio-economic events from around the world.Even the "safe haven" dollar seems to be no more as the US balance sheet has become an "out of balance" sheet. I'm reminded of a saying by the author, Mark Twain from the late 1800's when he said, "I'm notso concerned about the return on my money as I am about the return OF my money"! I can see many traders, investors and even nations who agree with that outlook.

Europeansovereignty, Middle East turmoil, US QE2, worldwide inflation, energy supplies and economic rebuilding are the new economic influences and indicators. Money flows can literally be seen following them. Volatility is up and even the professionals have been seen scratching their heads as some of the typical commodity relationships have not been behaving.

The good news here is that we're all on the same playing field now and nobody's got the edge. The carry trade is gone for now, and interest rates are basically taking a back seat toother geopoliticaland socio-economic events from around the world.Even the "safe haven" dollar seems to be no more as the US balance sheet has become an "out of balance" sheet.

If you're the type of trader who sits in fromt of the charts all morning or all day, scanning all timeframes on all currencies.....BEWARE! It's easy to fall into the chart trance mode that can cause a trader to see things that arent there! It also makes it more likely that the more you stare, Probably the biggest factor in my becoming a successful and consistent forex trader was when I stopped being a purely technical trader and began to understand and incorporate fundamentals into my trades. The Euro was up substantially today but the Pound was down substantially. These two pairs usually move in concert so why the 200 point spread between the two? Well one reason was that the Euro got a shot in the arm from its retail sales.

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