Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, July 06, 2006
van Gecko 08:12 GMT July 6, 2006
gvm.. need to see the underlying market dynamics at that time.. a myopic rigid "buy on dip" mentailty could get a trader under deep water if one is not careful on how the market gets there..
gl..
Sydney gvm 07:34 GMT July 6, 2006
hey Gecko - would you be a buyer if it gets down to 125? TIA
van Gecko 07:30 GMT July 6, 2006
"07:46 GMT July 5, 2006
.. a daily close below is an "Outside Reversal Day' after failing to takeout 1.2820 (on a daily close basis).. for some brave bears, its a go to add shorts for a retest of 1.25.."
close below 1.2760 confirms Dollar "Bulega Roll" day 2..
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..
gvm.. need to see the underlying market dynamics at that time.. a myopic rigid "buy on dip" mentailty could get a trader under deep water if one is not careful on how the market gets there..
gl..
Sydney gvm 07:34 GMT July 6, 2006
hey Gecko - would you be a buyer if it gets down to 125? TIA
van Gecko 07:30 GMT July 6, 2006
"07:46 GMT July 5, 2006
.. a daily close below is an "Outside Reversal Day' after failing to takeout 1.2820 (on a daily close basis).. for some brave bears, its a go to add shorts for a retest of 1.25.."
close below 1.2760 confirms Dollar "Bulega Roll" day 2..
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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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