Forex encyclopedia

The desire to gain more is the most usual form of greed, which is also the easiest to recognize. For example, if for a certain strategy, 60% of winning trades are at 30.0 pips, while 30% are at 20.0 pips and only 10% are at 50.0 pips. If using this strategy a trader aims for 50.0 pips profit for every trade he/she places, then his/her decision is based or driven by greed. But greed can also come by a different facade. Prior to placing any order, a trader watches his/her chart for a certain “sign” as an opportunity to trade. When the sign is formed, the trader then looks for a “trigger” - confirmation that the said setup is valid and the opportunity to trade is real. And the trade is done in profit. Then the trader looks for another setup, wait for another trigger, and trades to gain another victory.

This consumer sentiment index represents results of survey of consumers, which is conducted by Michigan University. Questions touch upon confidence of citizens in economic conditions and prospects for the nearest future. Obtained figure throws light on respondents' sentiment and their intentions regarding spending money. Index is published twice a month. The fist one is the advance report announced in the end of the second week, usually on Friday. In two weeks final report is published. Publication time is 10:00 a.m EST (New York). Market respond to published data is minor. Index growth is favorable towards consolidation of national currency.