Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, January 05, 2007
Euro 1.3297->1.2981->1.3001, GBP 1.9750->1.9264->1.9290, gold 645->601->606
Euro & GBP at one month low after dropping close to 300 & 500 points over the past three trading days.
vely nice new year dogs.. :))
"
van Gecko 00:38 GMT December 23, 2006
Season's Greetings..
& enjoy a nice holiday ride aboard the euro 1.2888, GBP 1.9088 trains.."
Belgrade Bobby 18:08 GMT January 5, 2007
Happy New Year and everything else to all.
EURUSD failing to reach 1.35...very bad rejection at 1.3450 .Beware of support at 1.2920 and Major at 1.2710/50
Resistance now at 1.3130/55
Wish u all Great Trading Year and let the Force be with us all from Monday :)
Ciao
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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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