Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, May 05, 2004
van Gecko 08:15 GMT May 5, 2004
the Dollar breaking down to one month lows had erased a good portion of the recent gain by all of the major currency pairs..
a sub 89 USDX index will wipe-out most of the profit across the board..
some retracements can be expected after a 200+ point plunge, but a stalled US Equity market in retreat plus the Dollar below USDX 90 towards Friday this week could convert more BULL$ into BOOB$ (Bail Out On Blips..;)
Money talks..while BS do the walks..
lotsa good free reads, amusing diversional 'insanities' abound..
The S&P500 Index had failed to break above 1150 again in April.. The March daily 'Triple Top' formation had propagated into a weekly 'Double Top within a Rising Wedge'..
'Wedges' are pressure building formations.. resolving the formation could see a break-out in either direction, usually in the direction of the Wedge. However, with the Index closing the month under 1130 & the 50 month ma suggests more corrections to the downside before further attempts to break above the 1150/70 major resistance..
Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
the Dollar breaking down to one month lows had erased a good portion of the recent gain by all of the major currency pairs..
a sub 89 USDX index will wipe-out most of the profit across the board..
some retracements can be expected after a 200+ point plunge, but a stalled US Equity market in retreat plus the Dollar below USDX 90 towards Friday this week could convert more BULL$ into BOOB$ (Bail Out On Blips..;)
Money talks..while BS do the walks..
lotsa good free reads, amusing diversional 'insanities' abound..
The S&P500 Index had failed to break above 1150 again in April.. The March daily 'Triple Top' formation had propagated into a weekly 'Double Top within a Rising Wedge'..
'Wedges' are pressure building formations.. resolving the formation could see a break-out in either direction, usually in the direction of the Wedge. However, with the Index closing the month under 1130 & the 50 month ma suggests more corrections to the downside before further attempts to break above the 1150/70 major resistance..
Comments:
Post a Comment
Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
Archives
- 12/2000
- 06/2001
- 12/2001
- 06/2002
- 09/2002
- 12/2002
- 01/2003
- 02/2003
- 03/2003
- 04/2003
- 05/2003
- 06/2003
- 07/2003
- 08/2003
- 09/2003
- 11/2003
- 12/2003
- 01/2004
- 02/2004
- 03/2004
- 04/2004
- 05/2004
- 06/2004
- 07/2004
- 08/2004
- 09/2004
- 10/2004
- 11/2004
- 12/2004
- 01/2005
- 02/2005
- 03/2005
- 04/2005
- 05/2005
- 06/2005
- 08/2005
- 09/2005
- 10/2005
- 11/2005
- 12/2005
- 01/2006
- 02/2006
- 03/2006
- 04/2006
- 05/2006
- 06/2006
- 07/2006
- 08/2006
- 09/2006
- 10/2006
- 11/2006
- 12/2006
- 01/2007
- 02/2007
- 03/2007
- 04/2007
- 05/2007
- 06/2007
- 07/2007
- 08/2007
- 10/2007
- 11/2007
- 12/2007
- 01/2008
- 02/2008
- 04/2008
- 05/2008
- 06/2008
- 07/2008
- 08/2008
- 09/2008
- 10/2008
- 12/2008
- 01/2009
- 02/2009
- 04/2009
- 05/2009
- 09/2009
- 10/2009
- 11/2009
- 12/2009
- 02/2010
- 04/2010
- 05/2010
- 07/2010
- 08/2010
- 09/2010
- 10/2010
- 12/2010
- 01/2011
- 03/2011
- 08/2011
- 09/2011
- 10/2011
- 11/2011
- 12/2011
- 01/2012
- 02/2012
- 04/2012
- 05/2012
- 06/2012
- 09/2012
- 10/2012
- 11/2012
- 04/2013
- 12/2013
