The US Senate Banking Committee had been scheduled to discuss the Digital Asset Market Clarity Act on Thursday, but after strong opposing comments from Coinbase CEO Brian Armstrong, such discussions have been delayed. According to senator Tim Scott, chairman of the Banking Committee, the delay is temporary and “everyone remains at the table working in good faith”. Coinbase may well have pulled support for the bill, but Armstrong remains optimistic that the right outcome can still be achieved. For Coinbase, the main sticking point is the bill’s prohibition on stablecoin rewards. This point is seen as a way of protecting the traditional banking sector, which is unable to match the yield on deposits found in DeFi protocols and on crypto exchanges. For many, should the bill pass in its current form, the cryptocurrency industry would be in no better position than it currently stands, making the status quo preferable to adopting any new legislation. Coinbase (COIN) fell 6.5% on Thursday following their rejection of the bill, while Circle (CRCL), which issues and operates USDC, slipped almost 10% during yesterday’s session. For one reason or another, cryptocurrencies themselves were relatively unfazed, with Bitcoin remaining above $95,000. It has been a volatile few days for silver, which notched a record high of $93 per ounce on Wednesday before printing a confusing wick during yesterday’s session which saw lows of $86. Precious metals in general are undergoing a degree of selling pressure this morning, pushing silver below $90 per ounce, while gold, platinum and palladium are all in the red so far today. The main event for yesterday’s drama concerned the debate surrounding tariffs and whether or not such would be applied to the import of precious metals. The US government confirmed yesterday that tariffs would not be applied to mineral imports, and in fact raised the possibility of price floors for critical materials instead. #Crypto #Silver #Coinbase
The question on every trader’s mind at the end of 2025 was whether the rise in silver had met its end. Two weeks into 2026 and the answer is a resounding “no”. Silver is now officially above $90 per ounce as of this morning, rising 12% so far this week, and has gained 25% since the start of the year. Gold also broke back into record high territory this morning, pushing past yesterday’s peak of $4,634 per ounce, but the spotlight is mostly on silver for the time being. Platinum and palladium are once again bringing up the rear, not forgotten but overlooked so far today. The rise in precious metals is all the more impressive given the recent rebalancing of commodity indices, which should have added selling pressure to gold and silver. The fact that both metals not only absorbed the resulting pressure, but convincingly appreciated during the adjustment window, speaks volumes about current market sentiment. The rebalancing period ends tomorrow. Cryptocurrencies displayed a rare show of strength last night, which saw Bitcoin reclaim $95,000 per coin and hit highs not seen since last November. The broader crypto markets rose in unison, with many major coins gaining 7% or more over the day. The driving force behind the move was the purchase of 13,627 Bitcoin by Michael Saylor’s Strategy (MSTR), for a total of $1.25 billion. The acquisition is one of the largest in months and has helped to quell some of the doubts that arose after the company slowed down its Bitcoin purchases in recent times. Tensions between the US and Iran have worsened over the last couple of days, leading to rise in the price of crude oil. Brent Crude futures have now topped $65 per barrel, while the WTI index is in the high $60 range. The spread between the two benchmarks has widened over the last few weeks, in part because of the expected oil flows from Venezuela to the US, but also because of the potential disruptions to Middle Eastern crude exports. Seaborne crude oil is nearing a $5 premium compared to the American index, which is certainly on the higher end, although by no means unheard of. #Silver #Bitcoin #CrudeOil
In the crazy world of forex trading, charts move, prices fluctuate, spreads widen, but the greatest volatility of all is what goes on inside the trader’s mind. You have just promised yourself “This is my last trade of the day” only to open five more because “the market looks seriously interesting,” congratulations - you’ve already met the psychological side of trading. Forex psychology isn’t about indicators or economic reports. It’s about us - the fragile, hopeful, occasionally delusional human pressing the Buy/Sell button. On paper, trading seems simple: identify trend, enter trade, take profit. But in practice, it’s more like identify trend, doubt self, enter late, panic, close early, watch price go exactly where you intended, question your life choices. The markets have a way of showing us not just how money moves, but how we think, react, fear, and hope. Some traders succeed. Others rage-quit, delete MetaTrader, only to reinstall it an hour later. Why? The answer lies not in the candlesticks, but in the psychology behind the clicks. In this article, we’ll dive deep into the trading mind - why some traders thrive while others surrender, why forex attracts such “interesting” personalities, and how mastering psychology can be a greater edge than any indicator ever could. Expect the hard truths, light humour, and a healthy reminder that it’s not just the market we’re fighting it is ourselves. Forex trading doesn’t attract average people. No one casually stumbles into trading the world’s largest financial market the way they might take up gardening or knitting. No, forex attracts a very special breed - the financially optimistic, the freedom chasers, the strategy worshippers, and occasionally, the adrenaline junkies disguised as “investors.” Let’s meet the common trader species that wander into the charts: 1 - The Dreamer – “I’ll Be a Millionaire by Christmas” They discovered forex through a YouTube ad featuring a Lamborghini and someone saying, *“I turned $200 into $200,000.”*They haven’t learned risk management, but they have picked out a new villa in Dubai. Their favourite phrase? “Once I triple this account…” This trader often quits after the third margin call, only to return later with a renewed mindset: “This time I’m really serious.” 3 - The Strategist – “According to My 97-Page Trading Plan…” They have folders, spreadsheets, colour-coded journals, and possibly a trading desk that belongs at NASA. They say things like, “I don’t trade with emotion,” seconds before rewriting their plan after one losing day. While disciplined, they often forget to actually trade, spending four hours analysing and zero minutes executing. 3 - The Gambler – “All In, or Nothing Happens!” To them, forex isn’t trading, it’s a high-stakes casino with better charts. They don’t believe in stop losses because “the market will come back.” Spoiler: it won’t. These traders often exit the industry dramatically, shouting “It’s all manipulated!” before trying the crypto markets instead. 4 - The Revenge Trader – “The Market Owes Me” This person takes losing personally. After a bad trade, they don’t move on - they declare war. They increase lot size, change timeframes, open countertrades, and whisper to the chart, “You think you’re smarter than me?” The market, of course, always wins. They eventually leave forex, claiming, “I could’ve been great if I wanted to.” 5 - The Zen Monk (A Very Rare Species) – “It Is What It Is” They accept losses, follow rules, and treat trading like a marathon, not a sprint. They do not have FOMO, they do not chase revenge, and they definitely do not scream at candles. These are the ones who actually make it - which is why they are rarely found in trading forums or on YouTube. Why People Start Trading Forex: The Honest Truth But while many enter the forex arena with dreams and determination, most don’t stay long. Why? Because they expected numbers and charts… but what they found was patience, discipline, emotional warfare, and a mirror reflecting their worst habits. Many people enter forex trading with dreams of financial freedom. Few stay long enough to realise it’s less of a money-making sprint and more of a psychological endurance test. The harsh truth? Most traders don’t get blown out by the market - they get blown out by their own expectations. Expectation vs Reality: The Forex Plot Twist New traders imagine smooth equity curves, patient entries, and dignified exits. In reality, they experience midnight chart checks, emotional rollercoasters, and shouting “MOVE!” at silent candles. The Emotional Stages of a New Trader 1 - Excitement – “I’ve discovered the secret to wealth.” 2 - Confusion – “Why did price drop after I bought?” 3 - Denial – “It’s just a pullback… right?” 4 - Panic – “CLOSE IT. CLOSE IT NOW.” 5 - Blame – “The broker hit my stop on purpose. “Everyone blames the broker! 6 - Rebirth – Uninstalls platform. Reinstalls 2 hours later. The First Blown Account: A Trader’s True Initiation Everyone remembers their first blown account. It’s a tragic love story: After the emotional smoke clears, traders usually face three options: Why So Many Quit Most traders don’t lose because they lack technical knowledge. They lose because they cannot control themselves. The hardest part of trading isn’t analysis - it’s resisting the button your finger is already hovering over. While most traders battle hope, fear, and impulse, a small group emerges from the chaos with something rare: consistency. These are the ones who no longer chase the market - they let the market come to them. How? By mastering themselves. What Successful Traders Understand (That Most Don’t) 1 - Discipline Beats Genius You don’t need a genius IQ to succeed in forex. But you do need the emotional control to follow your rules. A disciplined trader with a simple strategy will outperform an impulsive trader using the world’s most sophisticated system. Every. Single. Time. “Great traders don’t predict – they prepare.” 2 - Patience Is a Superpower Successful traders can stare at a chart for hours and do nothing, because doing nothing is often the most profitable move. Meanwhile, others enter trades because they’re bored - and the market punishes boredom with precision. 3 - Acceptance of Loss Winners don’t just tolerate losses - they expect them. They see losing trades as the cost of doing business, not personal failures. Losers chase revenge; winners move on and protect their capital. “I didn’t lose. I paid for the lesson.” 4 - Emotional Clarity They don’t marry trades. They don’t argue with charts. They don’t add to losing positions while whispering, “Come back… please…”. They set a plan, execute it, and detach. Consistent Traders Think in Probabilities, Not Certainty They know they don’t need to win every trade - they just need to stay in the game long enough for their edge to play out. The Shift: From Profit-Chasing to Capital Preservation The day a trader learns to protect capital instead of chasing profit… their learning curve turns into a growth curve. Let’s get this straight: the market has no personal vendetta against you. It didn’t spike 50 pips just to hit your stop loss. It doesn’t see your trendline, it doesn’t care about your feelings, and it certainly isn’t impressed by your “95% win rate strategy.” But try telling that to a trader in revenge mode. Overconfidence: The Silent Account Killer After a few winning trades, traders often believe they have “cracked the code.” They start increasing lot sizes, ignoring their plan, and truly believing they cannot be wrong. Then one trade humbles them so hard they begin researching how to become a Monk! The Trap of Being ‘Right’ vs Being Profitable Some traders care more about being right than making money. They hold onto losing trades because closing them would mean admitting defeat. They’d rather lose money than lose pride. Professionals? They close losers without flinching because they prioritise their account, not their ego. “Be wrong and survive, rather than be right and blown out.” Personalising the Market New traders think the market is against them. They say things like: Truth bomb: The market doesn’t know who you are. It’s not hunting you; it’s hunting liquidity. But ego convinces traders otherwise - that they are the main character in a grand financial conspiracy. Humility: The Real Trading Edge The most profitable traders are strangely calm, even humble. They don’t boast. They don’t marry predictions. They trade quietly, like gardeners tending positions rather than warriors battling them. Success in trading comes the day you stop trying to win against the market and start trying to work with it. Trading platforms should really come with a warning: “May cause wild emotional swings, self-doubt, and talking to your screen.” Even traders with perfect strategies often fall victim to powerful emotions, sabotaging themselves from within. Fear – The Hesitant Assassin Fear makes traders freeze when they should act, and panic when they should wait. Greed – The Silent Saboteur Greed doesn’t whisper - it shouts. Greed convinces traders they’re about to catch a legendary move. Reality usually responds with full retracement. FOMO – Fear of Missing Obscenity Ah, the deadliest of all. The “I must get in!” sickness. A candle flies, and logic dies. FOMO traders enter late, buy tops, sell bottoms, and then ask, “Why does this always happen to me?” They don’t want a good trade.They want to be in a trade. This is why price almost always reverses right after they enter. Not because the market hates them… but because they chased the win and ditched the plan and any sound logic. Emotional Trading vs Professional Trading The brutal truth? The biggest battle in forex isn’t against the market. It’s against ourselves, our impulses, and our desperate need to always be doing something. Trading success doesn’t come from finding a magic indicator - it comes from mastering your own mind. A strong trading mindset transforms chaotic emotional reactions into calm, consistent decision-making. It’s the difference between blowing accounts and building them. So how do the consistent traders do it? 1 - Trade with a Plan - or the Market Will Plan for You A trading plan is your emotional shield. Without one, every candle becomes a personal attack. A solid plan includes: ✔ Entry criteria ✔ Stop loss & take profit placement ✔ Risk per trade ✔ Maximum trades per day ✔ When to walk away If you can’t write your plan down, you don’t have a strategy - you have impulses. 2 - Keep a Trading Journal (Yes, Really) Most traders hate this step… (me included), and that’s exactly why it works. Recording trades forces honesty: You can’t fix what you don’t track. Journaling turns mistakes into lessons instead of repeated disasters. 3 - Risk Small - Think Long Professional traders rarely risk more than 1-2% per trade. Why? Because survival is the goal. They know: “If you can’t survive a losing streak, you’ll never reach a winning one.” 4 - Embrace Boredom Real trading isn’t exciting. It's waiting. Watching. Drinking tea. Checking if the candle closed. Then waiting more. Those who crave excitement over discipline eventually find excitement… in liquidation. 5 - Take Breaks – Clear Mind, Better Trades A bad day in the markets isn’t fixed by another trade - it’s fixed by a walk, a reset, a break. The winning mindset knows: “The market will still be here tomorrow. My account might not be though.” 6 - Focus on Process, Not Daily Profit Obsess over execution, not equity. Success is built on consistency, not luck. Follow the plan long enough… and the profits eventually follow you. In short: You don’t need more indicators. You need more self-control. In the quest for forex success, most traders search for the perfect strategy, the ultimate indicator, or the secret signal that promises endless profits. But eventually, all roads lead to the same truth: The market isn’t your biggest opponent. You are. Charts don’t care about your hopes. Candles don’t bend to your will. Economic news doesn’t wait for you to “just place one quick trade.” The forex market is indifferent, unemotional, and beautifully brutal - and that’s exactly why mastering trading psychology gives you the ultimate edge. Success in trading isn’t found in prediction. It’s found in preparation, patience, and the ability to stay calm when everything inside you just wants to panic. It’s choosing logic over impulse, process over profit, and longevity over excitement. Yes, there will always be losses. There will be days when the market humbles you, when setups fail, when candles sprint in the wrong direction. But the successful trader doesn’t fight the chaos - they flow with it. They take the loss, record it, breathe, and return the next day with clarity, not vengeance. The Real Trader’s Journey And somewhere along that path, you stop needing to win every trade - because you finally understand how to win the game. So, to every trader still battling fear, ego, revenge, and FOMO - remember this: you’re not alone. Every profitable trader you admire has been precisely where you are. The difference is… they didn’t quit. They adapted. They grew. They mastered their mind - and the market followed.
Another Monday morning, another surge in precious metals. Gold wasted absolutely no time pushing to a fresh record high of $4,600 per ounce this morning, once again opening the session with a sizeable gap. The same is true of silver, which opened over $80 per ounce and immediately pumped to $84, matching the record high from two weeks ago. Platinum and palladium were also in bid this morning, although remain short of the highs achieved in 2025. The situation in Iran appears to be the driving force behind the rise in precious metals this morning, as sweeping anti-government protests intensified over the weekend, culminating in hundreds of deaths according to some reports. President Trump said that Washington is considering “some very strong options” regarding the ongoing developments, but also confirmed that the Iranian leadership is willing to negotiate following threats of US military intervention. Recent events have also driven crude oil prices higher, although in the grand scheme of things the price action is hardly anything to write home about. The Brent Crude index managed to push back over $63 per barrel this morning, while WTI lags at around $59. Bitcoin meanwhile is showing minors signs of life today, but remains largely unfazed by such worldly affairs. The US Department of Justice has served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment relating to the Fed Chairman’s testimony last June, according to a statement released by Jerome Powell late last night. The testimony in question relates to the project to renovate historic Federal Reserve buildings, estimated to cost around $2.5 billion, a figure that drew its fair share of criticism at the time. For many however, including Jerome Powell himself, the reasoning behind such legal pressure is almost irrelevant. In his statement, the Fed Chairman made it very clear that the latest action was merely a pretext, saying that the real reason the administration is going after the Fed is because of the interest rate decision made over the course of last year. President Trump has long criticised Jerome Powell for not lowering rates quickly enough, and the latest action against the Fed will be viewed as move to put more pressure on the central bank. The dollar is currently reacting poorly to the news, pushing the DXY back below 99 early this morning. A reminder that although Powell’s chairmanship expires in May, his membership on the board of governors continues until January 2028. Very little on the economic calendar today, but Tuesday promises to deliver several interesting data points in the form of US inflation data, as well as some long-overdue home sales figures. On Wednesday, China will publish its latest balance of trade data, while later in the day the US will publish October and November PPI figures, followed by November retail sales – the backlog has not been cleared just yet. Thursday closes out the week with UK and German GDP data, as well as the regularly scheduled US jobless claims. The earnings calendar will perk up a bit this week, particularly for the financial sector, with JPMorgan Chase (JPM) reporting on Tuesday; Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) reporting on Wednesday; Goldman Sachs (GS), Morgan Stanley (MS) and Blackrock (BLK) reporting on Thursday. Taiwan Semiconductor (TSM) also reports on Thursday. #CrudeOil #Gold
Starting later today, Bloomberg and Standard & Poor’s will begin the annual process of rebalancing their respective commodity indices. Such readjustments are a routine occurrence, but are likely to be more significant this year, reflecting the extreme price increases seen in precious metals in 2025. The new weightings for gold, silver, crude oil and other commodities will be adjusted in accordance with predetermined rules, potentially forcing larger institutional players into submitting sizeable trading orders over the next few days. The selloff in silver over the last couple of days is likely a pre-emptive defensive move ahead of such adjustments, which will last until mid-January. From highs of $82 per ounce just two days ago, silver explored lows of $73 yesterday before closing higher. The white metal appears equally indecisive today, as do precious metals in general, with the exception of gold, which is displaying admirable stability around $4,460 per ounce. US stocks are patiently awaiting non-farm payrolls later today, which represents the last piece of the puzzle with regard to last year’s labour market. Wednesday’s ADP print came in close to expectations, provoking little reaction from financial markets, but today’s NFP drop could well swerve clear of analysts’ predictions. Another potential bump in the road is the Supreme Court’s decision on the legal status of the recent tariff measures imposed on the United States’ trading partners. The court is set to deliver its verdict later today, and while it does not have the ultimate say on the matter, the resulting legal wrangling could confuse and delay the implementation of import duties for months to come. A combination of different events pushed crude oil prices higher yesterday, lifting the Brent Crude index over $62 a barrel and WTI up to $58. The US seized a number of Venezuelan tankers on Wednesday, as part of the effort to contain oil exports from the South American nation. In the Middle East, the Iraqi government recently approved plans to nationalise the West Qurna 2 oil field – one of the largest oil fields in the region. Meanwhile, across the border, sweeping protests in Iran have oil markets on edge because of Trump’s promise to intervene on behalf of peaceful protestors. Nothing concrete as of yet, but a direct intervention by the US military will obviously have far-reaching consequences for oil delivery in the region. #NFP #Metals #CrudeOil
The rally in precious metals appeared to have some juice left in the tank early this week. The gaps from Monday’s open have yet to be closed, and gold is now challenging $4,500 per ounce for the second time. The developments in Venezuela caught markets off guard, but the safe-haven flows are by no means contained to gold. Silver is once again outpacing its golden counterpart, pumping over 10% already since Monday, comfortably closing yesterday’s session north of $80 an ounce. Supply and demand dynamics are playing at least some part in the rise in metals, as platinum and palladium are matching the gains in silver move for move, while copper futures hit an all-time high yesterday of $6 per pound. Increased industrial demand, coupled with the potential for tariffs and export restrictions alike, may continue to put pressure on metals for a while longer. In the immediate term, volatility remains high and the next direction of travel is as mysterious as ever. An interesting start to the year. In stark contrast, oil markets are facing no shortages whatsoever. Crude prices have largely shrugged off the weekend’s events in Venezuela and the Brent Crude index is already back down to $60 per barrel. Adding to oversupply fears, President Trump has announced that “Venezuela will be turning over between 30 and 50 million” barrels of oil to the United States. Not that anyone is in any great need of it – the West Texas Intermediate is also facing near-record lows of $56 per barrel. All fun and games for traders in Chevron (CVX) however, which pumped 5% on Monday, only to retrace the entire move the following day. Markets will be granted a glimpse into the health of the US economy later today, thanks to the December ADP employment change and ISM services PMI. US stock markets are still in a jovial mood, with the Dow Jones hitting back-to-back record highs over the past couple of days and closing above 49,000 points for the first time yesterday. The S&P 500 also notched a fresh record on Tuesday, while the Nasdaq remains a little off the boil. Memory giants Sanisk (SNDK) and Micron (MU) were the outliers, gaining 28% and 10% respectively. #Metals #Oil #StockMarket
