DislikedPretty complicated plan, I do agree price tends to react on certain zone or numbers but following PA is rather easy than counter trade. Several times I find my self in trouble doing counter on fast and furious PA, every time I get a bad entry I try to tell myself wait for a strong R/S or S/D. That helps.Ignored
property market went bust around 2008/09
bought a house for 300k - knowing the local market - seemed like a bargain
2010 price went down by 8% - didn't sell, didn't panic
picked another bargain for 250k
2013, combined worth of both is around 700k and i expect it to appreciate further
whether its currency, property, or any stock for that matter, one needs to know the limits and be able to take a bit down side before making a profit
difference in forex is that its leveraged - so leverage must be used wisely so one can hold out if needed.
thats the longer term - bit like investing.
i do trade short term as well based on these: http://www.forexfactory.com/showthre...34#post6360634 supplemented by tma bands - gives me fuel for the longer term trades...