Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, January 11, 2007
Usd/Jpy Singapore Sling @1/11
The dollar setting up to break above the converging 7/98 long term trendline & the mid-term support channel from 1/05..
Massive dollar short liquidation above the psycho 120 level plus Eur/Jpy & Gbp/Jpy having another go at their recent highs while Euro & cousin GBP 'consolidates' in side to down bias could send the new year Dollar on its merry way above 121+..
Usd/Jpy monthly & weekly @1/11/07
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 analytics & 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 inorder to compensate for those times when we are wrong..
Massive dollar short liquidation above the psycho 120 level plus Eur/Jpy & Gbp/Jpy having another go at their recent highs while Euro & cousin GBP 'consolidates' in side to down bias could send the new year Dollar on its merry way above 121+..
Usd/Jpy monthly & weekly @1/11/07
Labels: Usd/Jpy
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 analytics & 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 inorder to compensate for those times when we are wrong..
Chart Archives
- February 2006
- June 2006
- August 2006
- September 2006
- October 2006
- December 2006
- January 2007
- May 2007
- June 2007
- July 2007
- November 2007
- July 2008
- August 2008
- October 2008
- October 2010
