Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, September 21, 2006
van Gecko 14:05 GMT September 21, 2006
contrary to popular preceptions, the euro bull is fighting a serious health problem here.. the only possible fix is an 8 to 10 figure correction as real money m/t bulls will not touch it up here.. smart money rarely make a habit of loading the boat with mid-term cargos near a 5 year high & expect to unload them higher at a profit as the risk of being inflicted with that dreaded Fx PorkChopTitist disease is too great.. the same scenario applies for the yellow metal..
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..
contrary to popular preceptions, the euro bull is fighting a serious health problem here.. the only possible fix is an 8 to 10 figure correction as real money m/t bulls will not touch it up here.. smart money rarely make a habit of loading the boat with mid-term cargos near a 5 year high & expect to unload them higher at a profit as the risk of being inflicted with that dreaded Fx PorkChopTitist disease is too great.. the same scenario applies for the yellow metal..
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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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