Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, April 19, 2005
van Gecko 07:37 GMT April 19, 2005
The next major attractor along EUR/GBP's merry m/t southbound route is .6700..
With 1/3 of the year gone & having penetrated the 6 month support theres now very good odd the cross had printed the high for the year .6550/00 now falls within the average yearly range.. however, a decisive break of the 5 year up channel below .6700 could trigger a fast multi-month decline down to the .6200/.6000 support band..
Daily closes below the .6800 intermediate pivot attractor or bounces infront of .6880/.6900 are good opportunities to initiate new or add to existing m/t positions..
Cheerios for all new & old 'SS Brigade' members ..
eur/gbp @.6850
hk ab 17:51 GMT April 15, 2005
Gecko//Any words on USD index and the goose?
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 next major attractor along EUR/GBP's merry m/t southbound route is .6700..
With 1/3 of the year gone & having penetrated the 6 month support theres now very good odd the cross had printed the high for the year .6550/00 now falls within the average yearly range.. however, a decisive break of the 5 year up channel below .6700 could trigger a fast multi-month decline down to the .6200/.6000 support band..
Daily closes below the .6800 intermediate pivot attractor or bounces infront of .6880/.6900 are good opportunities to initiate new or add to existing m/t positions..
Cheerios for all new & old 'SS Brigade' members ..
eur/gbp @.6850
hk ab 17:51 GMT April 15, 2005
Gecko//Any words on USD index and the goose?
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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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