We hope everyone had a great and profitable week of trading this week in these turbulent times of 19th century style political tensions. Looking at the half-full end of the cup, it's good to be reminded by politicians that humanity's inability to change over the centuries also means that the same irrationality and self-destructive stupidity will continue to provide market inefficiencies to give us new trading opportunities. There's nothing we can do to stop idiocy but at least we can take some profits off the table to feed our families in the meantime.
Our free forex signals closed off the week with an on-target close for the Aussie-Dollar, which managed to hold a lower low as our algo predicted and ended the US session dead inside of the projected closing range. The Swissy pair, on the other hand, faced a little too much selling pressure on the US Dollar from the American equities market retracement to hold the projected close range. In either case, there were plenty of trading opportunities intraday so we hope everyone took a piece of the pie before the New York banks closed for the weekend today.
Next week, we have a few big items on the economic calendar for traders coming out of the UK and the European Union. Keep an eye out and trade safe if you're a faithful participant on the fiber and cable pairs.
With the entire squad of post-WWII American allies now on board with the Russian sanctions, there's no end of excuses for the mainstream financial media - and the markets themselves - to overreact. Markets, like life itself, is just a game of chance so it's entirely possible that a major disaster could happen sometime soon, but that's not the likelihood any of us should be relying on.
Of course, it's that time of week again - the weekend, which means no more trading for two days until the Australian banks open for business on Sunday afternoon in New York.
We don't usually support most of the hyped up products in the Forex industry - especially those that come with ridiculous claims relying on beginner traders' ignorance - but there's one that our staff has always had a soft spot for: Forex Tester 2, a manual trading simulator that just plain does what it's meant to do and does it well.
They're offering a special sale to celebrate their 8 years of success, giving new users $50 off their standard prices until Friday, August 15th.
Every full-time trader on the FX Helpline staff has used Forex Tester at one time or another, to either practice over the weekends and market holidays or to manually test trading strategy ideas in a visual environment that closely resembles MetaTrader 4. After all, MT4 is still the retail platform everyone is familiar with... for better or worse.
As any trader knows, market conditions vary greatly between the peak of US and European trading to the Australian and Japanese sessions. Unlike practicing with a demo account, Forex Tester allows you to load months or even years of real data and practice your skills or visually test your strategies without relying on the market conditions of the specific day or hour you're using your demo.
At the very least, it makes one heck of an educational video game for serious traders to experience long periods of market history within a short time.
For that reason alone, it's one of the rare products in the Forex industry that we proudly support here at FX Helpline so we make no secret out of the fact that we've partnered with them to spread the word about their software to our readers.
If you haven't already bought your copy of this brilliantly designed software package, now's as good a time as any with the special $50 sale still going for another seven days. Click here to order Forex Tester 2 to start your weekend practice.
In any case, we may see some volatile times ahead especially as September draws near.
Depending on your strategy and style, it's probably a good idea to keep your targets close... and your stops closer. Enjoy the weekend!