Gold Futures

Feb 062015
 

Gold futures decline as Fed meets regarding interest rates hike

Gold futures immediately fell as The Fed held a two-day meeting regarding the interest rates hike that is anticipated to happen in 2015. If interest rates increase, it will be the first time since 2008 that the federal funds will increase to more than 0.25%.

Gold futures for April delivery dropped 0.4% to $1,287.40 an ounce on the New York COMEX division after economists have assessed the outlook for the U.S. interest rates. Gold prices decline when interest rates go up because the precious yellow metal only offers yields through price gains. Gold’s spot price is currently swinging at around $1,260 – $1,270 per ounce.

The president of the Federal Reserve Bank of St. Louis, James Bullard, said that investors were mistaken to think that the U.S.’ central bank will delay the interest rates hike that is set to take place in the middle of 2015. Bullard believes that the interest rates hike will soon get implemented because the country is constantly showing signs of recovery.

Gold prices skyrocketed to more than 9% at the start of the year on false speculations that The Fed will hold off raising interest rates due to a bad economy. However, strong economic data and declining jobless claims in the U.S. have prompted The Fed to seriously think about tightening its monetary policy. Several other factors lent support to gold’s rally at the start of the year, including the European Central Bank’s Quantitative Easing and low prices of oil that helped improved the margin of miners. India’s easing of its gold importation law, which forced importers to re-export 20% of their products before the rest can be sold in the country, also helped increase the precious yellow metal’s demand.

Discover the Wrong Forex Trading Strategies

Aug 152014
 

Discover the Wrong Forex Trading Strategies

Are you guilty of employing the wrong forex strategies? Maybe you’re not even aware that you are not going about your forex trading in a way that will lead to long term success and profits. See if you don’t recognize yourself and/or your forex trading behavior in any of these wrong forex strategies.

• You trade with all of your money. You have no targets in place, no entry or exit points, and you trade as much and as often as you like. If you are losing, you stay in the game in the hope of recouping your losses, and if you are winning, you stay in the game in the hope of winning still more. You lack discipline.

• Your goal is simply to make as much of a profit as quickly as you can, even if it means waiting for your currency to reach a specific high price before you even consider selling it. You let greed drive your forex trading.

• You ignore market trends and forex indicators; you eschew business, economic and global news. You know better; you trust your gut, your intuition, you play your hunches. No one can tell you anything because you are a forex trading master. You know everything.

• You consider yourself a forex day trader, using hourly charts and daily ranges to work from… while you don’t know everything there is to know about  forex trading, you obviously know more than millions of other traders who are too afraid to give day trading a go.

• You use all of the leverage available to you. Hey, what’s the point of having leverage if you don’t use it? After all, that’s what it’s there for, right?

• You find forex trading easy. You can’t see what the big deal is and what everyone else is talking about. Who needs books and guides and study tools.

• You consider yourself a lucky person, and luck is all you need to be a successful forex trader.

So, which one (or ones?) are you? All of these wrong forex strategies will lead to your early exit as a forex trader. But, there’s still time for you to right the wrongs, now that you know what you’re doing wrong.

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