Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, January 31, 2006
hk ab 16:59 GMT January 31, 2006
Kung Hei Fat Choi, special greetings go to great teachers, Qindex, bc and Gecko.
Syd 09:45 GMT January 26, 2006
Opportunities to push the greenback lower early Wednesday weren't taken, notes JP Morgan. This has installed a cautiious note in the banks negative outlook for the greenback, so although it sticks with its bearish view, it would suggest paring back risk, especially if EUR/USD breachs 1.22 and 1.2150, as a full blown reversal may then develop. EUR/USD now at 1.2245
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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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