Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, July 27, 2007
Gold @July 27
another monthly failure in front of the old 1980 high while the daily, weekly & monthly ma clusters are pressuring the -'ve carry Goldies to sustain the market above 650 or risk a multi time frame dive..
a classic make or break scenario..
climbing the Gold mountain, 1980-2007
click to enlarge
@June 27
@January 15
@June 14 2006
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..
a classic make or break scenario..
climbing the Gold mountain, 1980-2007
click to enlarge
@June 27
@January 15
@June 14 2006
Labels: gold
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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