In light of recent fluctuations in the US market, FTMO emphasizes the necessity for traders to adopt a disciplined approach. The current environment showcases a decline in existing home sales, which fell by 2.5% to a seasonally adjusted annual rate of 3.86 million in August, thus indicating a shift in the housing market dynamics.
Further analysis shows a surge in housing starts by 9.6% month-over-month, reflecting adaptation in construction trends. The rise in building permits, which increased by 4.9%, reveals a positive outlook for future investments and development, contrary to recent selling trends.
Amid these developments, FTMO advises traders to avoid chasing quick results and instead focus on gradual progression. The importance of patience, especially in volatile conditions influenced by economic indicators such as the CPI and non-farm payroll reports, cannot be overstated. Traders are encouraged to reflect on their strategies and cultivate confidence in their decisions.
Moreover, as the Federal Reserve contemplates a shift in interest rates, bringing them down for the first time in over four years, FTMO highlights the critical nature of psychological readiness. It is suggested that a trader's mindset accounts for approximately 90% of what leads to success in trading.
FTMO remains committed to supporting traders in honing their skills while navigating today's intricate financial landscape. Through continued education and focus on disciplined trading practices, traders can enhance their chances of success.