Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, November 13, 2007
shanghai bc 09:04 GMT November 13, 2007
How can anyone resist the temptation of 1000 pips profits in Euro, 200 Dollars profits in Gold and 30 Dollar profits in Oil in less than three months..This has been a good year for the medium-term trend followers..Massive profit taking has been going on for some days now..Expecting Dollar bounce and Euro correction for a few weeks in a certain range..But Dollar may decline again to the new low of the year after this bounce..Good trades..
van Gecko 23:28 GMT November 12, 2007
friends of the dollar trend till the very end who had missed the boat may get their chance for another shot at the historic highs soon..
Euro 1.38, GBP 2.00, & Gold 700 are good s/t targets for this round.. fwiwW
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..
How can anyone resist the temptation of 1000 pips profits in Euro, 200 Dollars profits in Gold and 30 Dollar profits in Oil in less than three months..This has been a good year for the medium-term trend followers..Massive profit taking has been going on for some days now..Expecting Dollar bounce and Euro correction for a few weeks in a certain range..But Dollar may decline again to the new low of the year after this bounce..Good trades..
van Gecko 23:28 GMT November 12, 2007
friends of the dollar trend till the very end who had missed the boat may get their chance for another shot at the historic highs soon..
Euro 1.38, GBP 2.00, & Gold 700 are good s/t targets for this round.. fwiwW
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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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