Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, August 10, 2006
Oakland daimyo 13:42 GMT August 10, 2006
FWIW: Wyckoff patterns suggest we have put in a mid-term top in both EUR/USDand GBP/USD. Likely to see continued distribution in short-term as composite operator has concluded buy campaign from earlier this year, sufficiently prepared for next move (trading range/ consolidation), and now looking to execute sell operations (markdown prices). This is my interpretation of the market cycles. So therefore, buying dollars despite what conventional wisdom says is "good bet" for next few months. 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..
FWIW: Wyckoff patterns suggest we have put in a mid-term top in both EUR/USDand GBP/USD. Likely to see continued distribution in short-term as composite operator has concluded buy campaign from earlier this year, sufficiently prepared for next move (trading range/ consolidation), and now looking to execute sell operations (markdown prices). This is my interpretation of the market cycles. So therefore, buying dollars despite what conventional wisdom says is "good bet" for next few months. 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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