Gaining an Edge over the Forex game of Mind, Money, & Wealth
Saturday, July 17, 2004
van Gecko 07:04 GMT July 17, 2004
The good news for Dollar bears is that the Dollar had settled down comfortably below Dollar Index 89 since the end of June, tilting the odds substantially for the resumption of its m/t bear trend down to Index 85 & lower..
Now, some good news for Dollar bulls..
The Dollar could extend this week's bear run & dip below Index 87 next week, but shell-shocked Dollar bulls can expect some s/t relief as the Dollar consolidates within the 87/89 Index band while both camps re-assess & carry out their mid trend accumulation/distribution strategies.. however, the bad new is that any reliefs may be short lived unless the Dollar regain Index 90..
fwiw..
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 good news for Dollar bears is that the Dollar had settled down comfortably below Dollar Index 89 since the end of June, tilting the odds substantially for the resumption of its m/t bear trend down to Index 85 & lower..
Now, some good news for Dollar bulls..
The Dollar could extend this week's bear run & dip below Index 87 next week, but shell-shocked Dollar bulls can expect some s/t relief as the Dollar consolidates within the 87/89 Index band while both camps re-assess & carry out their mid trend accumulation/distribution strategies.. however, the bad new is that any reliefs may be short lived unless the Dollar regain Index 90..
fwiw..
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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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