Day Trading Tips and Tricks

September 2, 2013

Erich Senft

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Tread Lightly! Forex Trade Update for September 2nd, 2013 — DTS Forex

eye-of-the-stormHi Everyone!

 

Just a quick update before we begin the week of trading.  I certainly hope everyone took full advantage of the weekend and spent the day enjoying Labor Day rather than trading.  Much as expected, things are off to a slow start.  Let’s talk about some issues that should certainly impact trading this week:

  1. NFP Is Friday:  Ends the week, but begins the list as the most important trading factor this week.  Remember the biggest question is when the Fed is going to change there largesse in the market.  That all hinges on the US job market.  NFP can change the calculus of that decision very quickly.  Steer clear of the potential volatility surrounding this news.  I say be done early in the week with trading if you do want to trade.
  2. We Are Exiting Summer Markets:  Yes, FINALLY!  Although Labor Day marks my “official” end of summer for the trading markets, much of the time, we don’t see full volume until the final weeks of September, so don’t get ahead of yourself.  If the markets are still sluggish for the next week or two, don’t be disheartened thinking these ranges will never end and we will never get price moves of any substance again.  It’s closer than you think.  Maybe NFP will open the floodgates?
  3. Syria Is Still a BIG ?:  US has not taken action yet, and although I am rather surprised that we are awaiting a Congressional decision upon a rather “laid back” timeframe, action is still likely.  It’s the reaction that we need to see, ESPECIALLY if action leads to other parties like Israel and Iran getting involved in this mess.

Keeping these factors in mind, I certainly hope everyone uses caution this week in trading.  It is an already shortened week, with Monday holiday, Friday out of the question and Thursday is likely to be a difficult day to trade.  I say it would be wise to sit out this week if you are not completely confident in your trading.  There will be bigger trades to be had soon.  I wish everyone who does decide to trade this week the very best wishes and those who decide not to, a tip of my cap.

Please contact me at Omar@dtsforexsystem.com with any questions/comments/concerns

 

September 2, 2013

Erich Senft

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