I’ve created a short video to not only give you guys an update on this weeks happenings in the world of forex, but also to give everyone an update on the incredible growth of our crypto portfolio. A growth achieved by applying the methods we teach right here on FMP!
We saw the NZD (New Zealand dollar) rocked by a tweet that basically stated the delay in a rates hike was due to a problem with communication….the irony does not escape me. Remember that a rates hike i.e. an interest rate hike is generally good for a currency. Now you can imagine what happens (and probably saw this week) what happens when a rates hike is promised, but does not realise…not good! Don’t feel to be bad though, these are things that are out of our control and does sometimes happen with trading. The key is to control your risk at all times.
It’s Jackson Hole this week and you need to be really careful trading around this event, now and in the future. Essentially a bunch of central bankers from around the world get together and talk shop. As you can imagine, however, this can effect any and all currencies -think of it as all in red flag news.
I have also given an update on various currency charts. There are very good examples of ‘strategically splitting an entry’, ‘when not to trade’, ‘correlation’ ‘multiple reasons for the stop’, ‘positional trades’, ‘managing risk’ and ‘good risk vs reward’. Definitely something to learn from no matter what you might be battling with.
See the video below for the details.
Remember, we look at the fundamentals first when it comes to crypto trading and specifically their real world use -how could they potentially make your and my life easier? Bitcoin briefly passed $50,000 this week as there were further signs of real world integration, as one of Americas biggest mortgage lenders revealed plans to start accepting bitcoin as payment. (As predicted though, BTC bounced of off this level -M2 anybody? 🙂
One of our coins (Cardano) is now up an incredible 6000% since we first launched our crypto site. This means that if you had started with us when we launched our crypto portfolio and had invested $1000 into Cardano, it would now be worth $61,000 …I’ll just let that sink in. I still believe in crypto fundamentally and it’s definitely not to late to get involved. Remember, the methods we teach you at FMP can be used for Forex, Crypto & Stocks.
Link to our new crypto mini course