Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, June 21, 2005
Ldn 08:30 GMT June 21, 2005
Zorro -Geneva -Van Gecko would like to know when one of these will be buying Euro ?
SanFrancisco analyst 07:03 GMT June 20, 2005
I recently analysed an extremely well publicized foreign exchange CD sellers teachings who claimed to produce exactly what the "big banks" were doing. I compared his die hard S/R levels to actual market conditions and found his method would have been destroyed by the market, gambling that Support would hold, adding with every support under that until 500 pips later you might want to consider eating your loss.
What a joke. My advice is learn to understand the mood of the market based upon the complex conditions and find a manner to move with the flows, because the rest will not provide what you hope. Quindex is good. Martin is good, Gecko is good, there are a few others, but you must learn to trade on your own merit or you will not succeed.
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..
Zorro -Geneva -Van Gecko would like to know when one of these will be buying Euro ?
SanFrancisco analyst 07:03 GMT June 20, 2005
I recently analysed an extremely well publicized foreign exchange CD sellers teachings who claimed to produce exactly what the "big banks" were doing. I compared his die hard S/R levels to actual market conditions and found his method would have been destroyed by the market, gambling that Support would hold, adding with every support under that until 500 pips later you might want to consider eating your loss.
What a joke. My advice is learn to understand the mood of the market based upon the complex conditions and find a manner to move with the flows, because the rest will not provide what you hope. Quindex is good. Martin is good, Gecko is good, there are a few others, but you must learn to trade on your own merit or you will not succeed.
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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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