Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, May 31, 2007
Usd/Jpy Singapore Sling @5/31
Solid mid-term continuation patterns with consecutive Quarterly tests on 122..
Good support for the dollar above 118 to mount a high probability break up to 125, the converging 18 year TL & monthly 200ma clusters..
Usd/Jpy monthly & weekly, click to enlarge
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Usd/Jpy Singapore Sling @1/11/07
@10/30/06
@9/29/06
@8/30/06
__________________________________________________
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..
Good support for the dollar above 118 to mount a high probability break up to 125, the converging 18 year TL & monthly 200ma clusters..
Usd/Jpy monthly & weekly, click to enlarge
__________________________________________________
Usd/Jpy Singapore Sling @1/11/07
@10/30/06
@9/29/06
@8/30/06
__________________________________________________
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..
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