Whilst there are many different components that make up trading success, perhaps the one which stands head and shoulders above the rest, is in understanding yourself.

Politics also plays a part here, with politicians themselves, and in the last few years we have also seen some key referenda coupled with shifts in grass roots sentiment.

All economies move in cycles which repeat endlessly. The timescale over which this occurs will differ, but the cycle itself will be repeated again and again.

For central banks, interest rates are the primary tool they use to control the money supply in an economy, and in the case of the Federal Reserve there are two interest rates that we have to watch, the FED Funds Rate and the Discount Rate.

Finally for the UK we come to three releases from another authoritative body which is the Office for National Statistics.

Equity markets are all about risk and return. Higher risk assets yield higher returns, and if there is one sacred belief in trading and investing, it is that equities are the best asset class to hold for the longer term.

But why do countries adopt a currency peg and what are the benefits? But perhaps a supplemental question is why is this important even to a scalping forex trader. And the answer is the Euro!

So do we see the same at the bottom of a trend lower? And, the answer, of course, is yes. We have exactly the same principles at work here.

Now as we move deeper into volume price analysis, we’re going to consider the five stages of price action, which appear in all timeframes from one minute to one month.

The forex market is marketed and promoted as one which is available 24 hours a day, and whilst this statement is undoubtedly true, it is also promoted as one which has the same profile, characteristics and risks throughout this 24 hour period. And this is completely false.