Thursday March 31, 2022 - 10:59:08 GMT
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Forex View: Take Hope Out of Your Trading Dictionary
There are times when I scratch my head and remind myself of the old trading adage, Markets can remain irrational longer than you can stay solvent.
This was the case recently as markets ignored what was going on the ground in Ukraine and focused om any headline that suggested peace talks were showing glimmers of progress. Well, there seems to be a reality check today although it is hard to determine how much of the flows so far have been related to month/quarter end.
While markets tend toi trade on expectations, this time around it seem to be doing so based more on hope than fact as I indicated in this post on the AT Forum (see our new Amazing Trader website):
GVI Forex 10:20 GMT 03/30/2022 - My Profile
Markets have been trading on the hope that the Ukraine crisis will come to a conclusion but hope is not a sustainable strategy given Putin's history and a general skepticism that this is the endgame.
While there are other factors at play, such as expectations of central bank monetary tightening and resulting interest rate differentials. Hope still has no place in my )and take it out of your) trading dictionary.
Jay Meisler, co-founder
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