Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, June 01, 2012
USD ZEUS 15:46 GMT June 1, 2012
Reply
I think the market is doing what it should only after Van Gecko finally came back to give it a nudge in the right direction.
Cheers!
GVI Forex Blog 15:24 GMT June 1, 2012
Reply
In FX trading, EUR/USD tested fresh two-year lows at 1.2289 but did find the ability to bounce over 150 pips from its lows in a short-covering rally to test 1.2450. However the euro gave up some gains and fell back to 1.2360 mid morning.
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..
Reply
I think the market is doing what it should only after Van Gecko finally came back to give it a nudge in the right direction.
Cheers!
GVI Forex Blog 15:24 GMT June 1, 2012
Reply
In FX trading, EUR/USD tested fresh two-year lows at 1.2289 but did find the ability to bounce over 150 pips from its lows in a short-covering rally to test 1.2450. However the euro gave up some gains and fell back to 1.2360 mid morning.
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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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