Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, July 26, 2006
USA Zeus 14:04 GMT July 26, 2006
Guys- History does repeat itself. Every time the EUR/USD hit 1.2950+ The calls were loud and clear on this msg board that 1.35 maybe 1.50 was next then dreams and overleveraged accounts fizzled as "wave 4" kicked in for -500 pips. Next came the false break at 1.2850 on lucky 7/7 and for sure it was all clear for a 1.30+ move. Trap- back down 400 pips. Last Friday the chatter re-emerged as loud as usual- back down 200. Point is that recent price activity is not a function of future price activity but the human reaction en mass tends to be the antithesis of future price. Not suggesting future personal price bias just throwing logs in the fire- LOL GT
van Gecko 07:56 GMT July 26, 2006
"07:09 GMT July 24, 2006
euro & cousins getting dump in Asia to start the last trading week of the month may be great news for dollar SOB & SOSB'ers to sell more dollar on blips below 1.25 euro..
if lucky, may even see some substantial blips below 1.24 the second time around.."
Dollar blipping 100+ pips/day since Monday.. next dollar SOB levels of interest; Euro 1.25 & GBP 1.83
cheerios..
Oakland daimyo 07:16 GMT July 26, 2006
Las Vegas Jon 05:51 GMT July 26, 2006
Prop Desk having fun picking off late comers. Hedge fund boys playing follow the leader. Expecting round of profit taking in cable, euro$, and swissy before real-money players begin adding to core positions. Mind your reward/ risk as range trading (false b/o scenario, etc) likely to persist. Playing both sides of market using resonable stops preferred strategy for time being. Buy on support/ Sell on resistance target opposite side. Don't get greedy, real money players will start buying dollars again in near future. Good trades
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..
Guys- History does repeat itself. Every time the EUR/USD hit 1.2950+ The calls were loud and clear on this msg board that 1.35 maybe 1.50 was next then dreams and overleveraged accounts fizzled as "wave 4" kicked in for -500 pips. Next came the false break at 1.2850 on lucky 7/7 and for sure it was all clear for a 1.30+ move. Trap- back down 400 pips. Last Friday the chatter re-emerged as loud as usual- back down 200. Point is that recent price activity is not a function of future price activity but the human reaction en mass tends to be the antithesis of future price. Not suggesting future personal price bias just throwing logs in the fire- LOL GT
van Gecko 07:56 GMT July 26, 2006
"07:09 GMT July 24, 2006
euro & cousins getting dump in Asia to start the last trading week of the month may be great news for dollar SOB & SOSB'ers to sell more dollar on blips below 1.25 euro..
if lucky, may even see some substantial blips below 1.24 the second time around.."
Dollar blipping 100+ pips/day since Monday.. next dollar SOB levels of interest; Euro 1.25 & GBP 1.83
cheerios..
Oakland daimyo 07:16 GMT July 26, 2006
Las Vegas Jon 05:51 GMT July 26, 2006
Prop Desk having fun picking off late comers. Hedge fund boys playing follow the leader. Expecting round of profit taking in cable, euro$, and swissy before real-money players begin adding to core positions. Mind your reward/ risk as range trading (false b/o scenario, etc) likely to persist. Playing both sides of market using resonable stops preferred strategy for time being. Buy on support/ Sell on resistance target opposite side. Don't get greedy, real money players will start buying dollars again in near future. Good trades
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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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