Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, July 09, 2010
GVI Forex Blog 12:51 GMT July 9, 2010
The euro slipped off two-month highs against the dollar on Friday with investors taking profits ahead of the weekend as strategists said its recent rally would peter out due to lingering worries about the euro zone economy.
FOREX NEWS - Euro slips off 2-mth highs, high-yielders firm
van Gecko 09:28 GMT July 9, 2010
GBP @1.52 Euro @1.27
Good SOB zones here @1.52/53.. GBP & cousin Euro need new bids above 1.51 & 1.26 or risk another sterling picnic down at recent lows for Svejk's short marching soldiers..
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..
The euro slipped off two-month highs against the dollar on Friday with investors taking profits ahead of the weekend as strategists said its recent rally would peter out due to lingering worries about the euro zone economy.
FOREX NEWS - Euro slips off 2-mth highs, high-yielders firm
van Gecko 09:28 GMT July 9, 2010
GBP @1.52 Euro @1.27
Good SOB zones here @1.52/53.. GBP & cousin Euro need new bids above 1.51 & 1.26 or risk another sterling picnic down at recent lows for Svejk's short marching soldiers..
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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