Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, November 12, 2009
van Gecko 05:55 GMT November 12, 2009
GBP @1.66
1.6450 & 1.6250 now in sight for Her majesty's short marching soldiers & Sons of Beatrice.. below, "No panic soldier Svejk" could say: "See ya @1.5750 for another Sterling picnic "...
Cheerios
Maribor 10:44 GMT November 11, 2009
GBP: Reply
My best guess is that there were some sweet stop orders to trigger....but GBPJPY shall return to 151,3, so as good soldier Svejk would say: "No panic"...
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..
GBP @1.66
1.6450 & 1.6250 now in sight for Her majesty's short marching soldiers & Sons of Beatrice.. below, "No panic soldier Svejk" could say: "See ya @1.5750 for another Sterling picnic "...
Cheerios
Maribor 10:44 GMT November 11, 2009
GBP: Reply
My best guess is that there were some sweet stop orders to trigger....but GBPJPY shall return to 151,3, so as good soldier Svejk would say: "No panic"...
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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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