Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, January 11, 2012
| dc CB 02:07 GMT January 11, 2012 BOD or SOB: Reply I think you should recognize the originator of BOD, SOB.... Van Gecko and rename your thread appropriately Cheers | |
GVI Forex Jay 23:51 GMT January 10, 2012 - My Profile
BOD or SOB: Reply
EURUSD
Entry: Target: Stop:We want to test a new feature and would like your feedback and participation. More than half the battle is to find the strong side to trade and this is a BOD (bid on dips) or SOB (sell on blips) bias + give a reason and/or level. You can have a different bias to what someone posts or can even have times when both work.
This can be done for any currency and anyone can start a new BOD or SOB thread. The bias can change during the day based on news or price action. I think this could be a great addition. Add your bias when you come in and read this - it is a beta test
Example:
SOB bias today while below 1,2800 or 1.2820. With the ECB and Italy and Spain auctions ahead, eurusd upside should be limited on Wednesday.
Entry: Target: Stop:We want to test a new feature and would like your feedback and participation. More than half the battle is to find the strong side to trade and this is a BOD (bid on dips) or SOB (sell on blips) bias + give a reason and/or level. You can have a different bias to what someone posts or can even have times when both work.
This can be done for any currency and anyone can start a new BOD or SOB thread. The bias can change during the day based on news or price action. I think this could be a great addition. Add your bias when you come in and read this - it is a beta test
Example:
SOB bias today while below 1,2800 or 1.2820. With the ECB and Italy and Spain auctions ahead, eurusd upside should be limited on Wednesday.
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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