Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, August 30, 2006
Syd 22:16 GMT August 30, 2006
USD / YEN - Uptrend to extend onto New Highs for the Year
by Max McKegg
AUG 30TH - USD/YEN has rallied nicely and remains on track for an advance onto new highs for the year (above 121.40), enroute to the 127.00 level over coming months
van Gecko 13:52 GMT August 30, 2006
Usd/Jpy_ Singarpore -> Sling ->target 127
_______________________________
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..
USD / YEN - Uptrend to extend onto New Highs for the Year
by Max McKegg
AUG 30TH - USD/YEN has rallied nicely and remains on track for an advance onto new highs for the year (above 121.40), enroute to the 127.00 level over coming months
van Gecko 13:52 GMT August 30, 2006
Usd/Jpy_ Singarpore -> Sling ->target 127
_______________________________
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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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