Notable news:

  • RBA is still showing a "soft" view on monetary policy, there is no sign that they will raise interest rates or withdraw stimulus soon.
  • Euro area gross domestic product fell less than initially estimated in the final quarter of 2020, while employment rose more than three months earlier despite pandemic-induced lockdowns. 
  • Markets are slowly leaving the global havens as traders turn to riskier currencies amid growing optimism about an economic recovery due to an accelerated vaccination program.
  • The BoJ will continue the current monetary policies to support the economy, in general, there are no signs of a change in monetary policy in the near future.

1. The key to being able to stop loss and still be profitable in the long run is to try to keep the risk/reward ratio high. Once you keep this ratio around 2:1, stopping loss becomes extremely easy. Keeping this ratio because it allows me to lose 2 out of 3 times without major problems. - Mark Minervini, Stock trader wizard.

2. The reason most traders can't cut their losses quickly is because they are afraid that after selling the stock will go up again and they will be wrong twice: once because of accepting a loss and the second time when the price increase again. It's the fear of regret, and it comes from the ego - Mark Minervini.

3. Bitcoin is experiencing its third parabolic bull run in the last decade. A parabolic rally on an arithmetic scale is extremely rare – and three such rallies on a logarithmic scale are unprecedented in history. - Peter Brandt, legendary trader.

The chart does NOT predict future prices. All sunken ships have room to chart their course, but they end up sinking anyway.

The chart shows where the price has traveled, the path of least resistance with the least potential, and the potential price zones where buying and selling are concentrated.

Sorry guys, charts can only do that - Peter Brandt.

4. Residents of European countries should be careful if you are holding gold, against the EUR.

The chart shows that gold has a 15% chance of falling against your coins - Peter Brandt.

5. We have to accept the random nature of the market, and we don't need to know what's going to happen to make a profit.

Instead, enter your trades with an advantageous system, and have absolute confidence in that system regardless of the short-term trading results.