Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, August 24, 2010
van Gecko 07:06 GMT August 24, 2010
Buy EURJPY
Entry: 107 Target: 112~113 Stop: 200 pips
Europhiles & Yenophobies looking for many pips..
van Gecko 06:51 GMT August 24, 2010
Buy GBPUSD
Entry: 1.5390 Target: 1.59~1.66 Stop: 200 pips
Svejk's long marching soldiers & range players looking for multi-figure pay-days here..
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..
Buy EURJPY
Entry: 107 Target: 112~113 Stop: 200 pips
Europhiles & Yenophobies looking for many pips..
van Gecko 06:51 GMT August 24, 2010
Buy GBPUSD
Entry: 1.5390 Target: 1.59~1.66 Stop: 200 pips
Svejk's long marching soldiers & range players looking for multi-figure pay-days here..
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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