3 New Year’s Resolutions Traders Should Be Making
Happy New Year! This week, we’re looking at 3 trading resolutions traders should be making in 2023. After that, we’ll outline the top fundamental events to watch out for this week. Let’s get to it!
Trader’s 2023 Resolutions
Here are 3 resolutions that we’re making this year, we thought you might like them too…
#1 Consider trading something else
One of the many fortunate things about being a trader in 2023 is that there is an abundance of investment options to choose from. When you think about it, it’s almost limitless.
Despite this, many traders do limit themselves to one particular instrument, class or type of investment. But why? Most trading strategies are universally applicable, so there’s almost nothing stopping you from trying something new.
If you’re a career FX trader, perhaps it’s time to take a look at the stock market? Bored of slow-moving commodities? Check out the crypto market where there’s never a dull day!
Variety is the spice of life, and with so many options to choose from, why not give something new a go?
#2 Keep up to date
As a trader you need to stay informed. You can‘t’ know everything, but you can always improve your understanding of the world and how the financial markets are moving.
None of us can truly predict what’s going to happen, we’d be writing this aboard our private yacht if so, but increased knowledge helps us make more informed decisions.
The best information about the markets is served up right here on a Monday morning, obviously(!); but if that’s not enough for you or you need a daily fix, we recommend the following sites:
● Reuters
● BBC
Those last two require a bit more digging, but use the right finance hashtags you’ll find some great information. Reddit is a goldmine, just be wary of r/wallstreetbets; where a pinch of salt is definitely required!
#3 Explore new platforms for information
Fundamental input and trading ideas don’t have to come from reading online articles or forums — though we’re clearly a big fan of them! In today’s hectic world, sometimes it’s hard to find even 5 minutes to sit down a read a blog post.
If that sounds like you, then you should check out the wonderful world of podcasts which allow you to get your daily financial news fix, or learn top trading tips on the go, whatever you’re doing.
Here are some of our faves at the moment:
● InvestTalk
● Wake Up to Money
● Motley Fool Money
● Invest Like The Best
● Chat With Traders
How about you?
What are your new year’s trading resolutions? Also, if you have any podcast recommendations, let us know. We’re always open to suggestions! Tweet us at @_Contentworks!
Top trading events this week
It’s going to be a fairly quiet week as the machine begins to start whirring again, but here are the hottest events for your trading calendar.
Monday
No major events are planned.
Tuesday
● EUR — German Unemployment Change (DEC); German Unemployment Rate (DEC); German Inflation Rate YoY Prel (DEC)
Wednesday
● USD — ISM Manufacturing PMI (DEC); FOMC Minutes
Thursday
● CAD — Balance of Trade (NOV)
Friday
● EUR — Core Inflation Rate YoY Flash (DEC)
● CAD — Employment Change (DEC); Unemployment Rate (DEC)
● USD — Non Farm Payrolls (DEC); Unemployment Rate (DEC); ISM Non-Manufacturing PMI (DEC)
Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.
Happy New Year!
The Contentworks team
