I’ve just watched a video which I think you should too:

Forex Mental Tips Video

It’s all about how some traders spend all of their time in pursuit of the perfect trading method but never invest any time in training themselves to become the best traders possible…

… Mentally.

The mental side of Forex trading is vastly underrated and it makes a lot of people lose a ton of money due to silly mistakes and missed
opportunities.

This is why I’m glad that Todd Brown, trading veteran and coach has decided to give all traders access to his no-cost coaching mini-course
on trading psychology.

The old saying is true: you are your worst enemy when it comes to trading. You have to learn to master your emotion and psyche and not let them control
you.

This  is a great opportunity to learn valuable psychological tips to help you master your mind and emotions and save yourself from losses.

You can access the mini-course here: Forex Mental Tips Mini-Course

The US Dollar is again showing signs of strength. The American currency rose against most major currencies, gaining 0.9% against the Euro, 1.2% against the pound, and 1.1% against the Swiss Franc.

The strength of the dollar can be attributed to the following factors:

1. A decline in unemployment in the US, as shown by yesterdays jobs data. This doesn’t mean that the World’s largest economy is out of the woods, but it is certainly a sign of hope.

2. The ever spreading trouble of the Euro zone with Greece, Portugal, and Spain showing signs that they will require intervention by the more wealthier members of the EU to save their economy from ruin. This has been dragging down the Euro for weeks.

3. Increasing risk aversion in the world financial markets as a whole. This has usually worked in the USD’s favor due to its being seen as a haven currency.

4. The decline in the price of oil. Oil prices are quoted in dollars so there is usually a negative correlation between these prices.

All in all, it seems that my previous prediction for 2010 are coming true: good year for the USD, bad one for the Euro.

The Euro is really feeling the pressure at the moment. The Euro lost ground to the USD, Yen, and Swiss Franc in yesterday’s trading.

There was a slight turnaround as the Swiss National Bank began selling Francs and buying Euros during the Asian session is a desperate attempt to halt the growing power of its own currency. This helped the Eur/CHF gain ground, for the moment at least, but it’s unclear how far and how long such an intervention can really help the troubled European currency.

We shall have to wait and see.

Note: I just read an interesting article about how the news really

One of the sponsors of the Forex Robot World Cup is FXCM, one of the world’s largest brokers. It’s not common to see a broker of this magnitude sponsor an online Forex robot or robots, so it was a surprise to me to see FXCM assume this role.

Now, Matthew Navie, V.P. of Institutional Sales & Business Development at FXCM has decided to go on record with the administrators of the FRWC and openly share his views on automatic trading, why FXCM sposnored this competition, and a lot more.

Tap here to listen to the full interview

Here are some of the topics of the interview:

• What’s the real difference between demo accounts and real ones.
• What’s liquidity got to do with trading.
• Why the FRWC provides a new level of transparency when it comes to judging a robot.
• How FXCM got to its current position as  a huge broker and what it’s offering (this is somewhat of a promotional message on Mr. Navie’s part).
• And more.

However, the biggest topic of discussion if the Forex Robot World Cup and what it may mean for the future of automatic trading.

I’m sure you’ll find this interview interesting: Tap here to listen to it