Gaining an Edge over the Forex game of Mind, Money, & Wealth
Monday, January 23, 2006
van Gecko 08:19 GMT January 23, 2006
not all breaks are created equal or must end in the direction of the herd.. late comers & some 'systematic model' funds adding top/bottom feeding market liquidities usually are the exception..
Helsinki iw 07:47 GMT January 23, 2006
Reportedly good demand from model funds behind the break of 1,2225/35 resistance in EUR/USD. Technically that break is another bullish sign, and the euro is likely to trade towards the 1,26 level over the coming weeks. Intraday, we are already a touch overbought, so ranging around current levels is probable. IMHO
van Gecko 07:08 GMT January 23, 2006
Impulsive moves occurring at the beginning of the week are rarely sustainable.. especially when they over-shoot major levels at the late stages of maturing short term counter-trend moves..
Cheerios..
euro @1.2250
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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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