Forex Trading Mind

Voting in Japan’s snap general election is over, and at the time of writing, exit polling suggests a landslide victory for sitting Prime Minister Shinzo Abe’s ruling coalition, although most polls indicate that it will fall just short of the constitutionally important two-thirds majority.

In an otherwise typically quiet Monday market, the price of Crude Oil is up almost 1.7% since this week’s open, as at the time of writing.

I try to keep an eye on the trading systems which are being discussed on various Forex forums around the web. Most of what you can find is junk, but sometimes even the junk systems help you to think about things and maybe learn something.

It usually pays off best for new traders to focus on making a few big winning trades and not worrying too much about lots of losers, provided the wins are big enough.

It is interesting that the Spanish government chose to use police yesterday to try to prevent a vote taking place, instead of just refusing to accept any possible vote in favor of Catalan independence by declaring it illegal, as they have declared it illegal anyway.

Since my last posting on Wednesday, the market has been dominated by the U.S Dollar and the British Pound.

The largest, strongest moves in the Forex market are usually caused by the U.S. Dollar, and this week has been no exception to that rule.

Today is the kind of day where the market is dominated by several political events which all have relatively minor effects, creating a mixed and uncertain whole.