Gaining an Edge over the Forex game of Mind, Money, & Wealth
Monday, November 09, 2009
van Gecko 04:05 GMT November 9, 2009
Sell GBP
Entry: 1.6710~1.6750 Target: 600~1000 pips Stop: 100 pips
Sell GBP here @ 1.6710 to 1.6750
stop 100 pips.. Take your dogs (or your favriote thingy) for holiday & take profit 600~1000 pips later.. cheerios
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..
Sell GBP
Entry: 1.6710~1.6750 Target: 600~1000 pips Stop: 100 pips
Sell GBP here @ 1.6710 to 1.6750
stop 100 pips.. Take your dogs (or your favriote thingy) for holiday & take profit 600~1000 pips later.. cheerios
Labels: GBP
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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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