Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, October 31, 2008
USDX:
Dollar Index 3rd consecutive monthly close above 200 day ma supported by a diverging daily Golden Cross..
trade safe & hoard cheerios..
USDX Daily
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re. Buy low and Sell high with levelled odds
At 4:47 PM, Anonymous said...
Hello Van Gecko,
I have been ccy trading for five yrs -all the time wondering "When am I going to have the confidence to bet big!". Often times throughtout my life I have intuitions of how things should be but there is no reflection of my sentiment in the larger relational reality.
I have always fumbled the ball shorting. I found the problem in immediate gratification. Slowly I have "sensed" that the right set up but I felt too "out there" in what I had to do.
Your perspicacity has given me the inkling that I may be on the right track here. Your gracious effort to provide the chart sealed the deal.
Thank you for sharing your insight in what is so often a hostile and "in your face" environment where I would have probably given up.
The best to you - sean
Beijing hoho 08:20 GMT October 31, 2008
Buy low and Sell high with levelled odds: Reply
Thank you very much for your post!
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..
Dollar Index 3rd consecutive monthly close above 200 day ma supported by a diverging daily Golden Cross..
trade safe & hoard cheerios..
USDX Daily___________________________________________________________________________________
re. Buy low and Sell high with levelled odds
At 4:47 PM, Anonymous said...
Hello Van Gecko,
I have been ccy trading for five yrs -all the time wondering "When am I going to have the confidence to bet big!". Often times throughtout my life I have intuitions of how things should be but there is no reflection of my sentiment in the larger relational reality.
I have always fumbled the ball shorting. I found the problem in immediate gratification. Slowly I have "sensed" that the right set up but I felt too "out there" in what I had to do.
Your perspicacity has given me the inkling that I may be on the right track here. Your gracious effort to provide the chart sealed the deal.
Thank you for sharing your insight in what is so often a hostile and "in your face" environment where I would have probably given up.
The best to you - sean
Beijing hoho 08:20 GMT October 31, 2008
Buy low and Sell high with levelled odds: Reply
Thank you very much for your post!
Labels: USD
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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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