Step-by-Step to setup CopyCat
In this step-by-step, we will use the account samples as follows.
- A sender account -123456, USD2,000 with Ophiuchus EA running
- A new receiver account – 456789, USD 4,000 with no other EA running.
Avoid Trading On News
What moves the Forex price? For stocks, it is probably a lot more obvious. The company is getting good growth, they launch new products that might get more market share, and the growth of their earnings per share might impact the stock price positively. How about forex? It’s a currency between two countries or multiple countries ( eg. EURUSD is Europe vs United States). The reason to move the price could be a new policy from a government of the currency, some VIP mentioning something in a public speech, political and subtle changes in the region or nearby countries, or an announcement of a recent economic indicator.
EURUSD/AUDCAD Market Update and Holiday Season Update 17 Dec 2023
This week, the US Fed turned dovish and all risk assets like Commodities, Stocks, and EURUSD have a very strong rebound. Two weeks ago, Powell stated stating they are not sure whether the interest rate is tight enough. ironically, now they are saying they are discussing reducing interest rates in 2024.
EURUSD Market Update 10 Dec 2023
Last week, NFP surprised the market by having higher-than-forecast results. NFP turned out to be 199K instead of the forecast of 180K. The US unemployment rate also reduced to 3.7%, better than the consensus of 3.9%. These number has proved that the US job market is still hot.
This week, we will have the most eventful week in December.
EURUSD and AUDCAD Market Update 2 Dec 2023
Last week, EURUSD was volatile and it broke 1.10 and then it dropped back to 1.08. This week we have a few important news announcements for EURUSD and AUDCAD.
EURUSD Market Update 12 Nov 2023
Last week, Australia’s RBA became the first developed country to raise interest rates after a short period of pause for interest rate hikes. This we have US CPI and PPI announcements. On the European side, they also have their CPI announcement this week.
EURUSD Market Update 28 Oct 2023
After the ECB interest rate decision, this week we will have the FOMC Interest Rate Decision and Nonfarm Payrolls.
EURUSD and AUDCAD Market Update 22 Oct 2023
This week, we have 2 important economic announcements that we need to take note of for EURUSD and one for AUDCAD.
EURUSD Market Update 7 Oct 2023
Last week was a very volatile week. EURUSD dropped from 1.059 to 1.044 and then back to 1.059 on Friday. Nonfarm payrolls for September give a very big surprise to the market. We have to be more cautious in this coming Monday and the CPI announcement for this week.
EURUSD Market Update 1 Oct 2023
Since the last FOMC meeting, the USD has become very strong and the EURUSD has dropped to below 1.05, which is a level that we haven’t seen since January 2023. Only till Thursday of last week, then there is some slight rebound for EURUSD.
This week we have US job data – ADP and Non-Farm Payrolls. They are the indicator that the US Fed will monitor closely to decide their move on potentially the last rate hike for this cycle.