Gaining an Edge over the Forex game of Mind, Money, & Wealth
Saturday, July 24, 2004
USA Biscuit Boy 19:59 GMT July 24, 2004
Thanks a bunch to Van Gecko who gave us an early heads up on a possible dollar correction last weekend and helped me take my stops nice and early on my short dollar positions. Cheers mate :)
sydney 07:10 GMT July 19, 2004
van Gecko 07:04 GMT July 17, 2004
good to see your post again. AUD/USD had reached .7340 & USD/CAD 1.3060, may I ask what is your view now? TIA
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..
Thanks a bunch to Van Gecko who gave us an early heads up on a possible dollar correction last weekend and helped me take my stops nice and early on my short dollar positions. Cheers mate :)
sydney 07:10 GMT July 19, 2004
van Gecko 07:04 GMT July 17, 2004
good to see your post again. AUD/USD had reached .7340 & USD/CAD 1.3060, may I ask what is your view now? TIA
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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..
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