I have found it useful to hold the following beliefs in order to trade successfully. I would stress that these are my beliefs and they are probably not true. But they do enable me to trade successfully.
- All technical analysis is fundamentally useless.
- All technical indicators are fundamentally useless.
- All fundamental analysis is fundamentally useless.
- Big traders manipulate price to screw the little traders but they also have to push exchange rates up and down to make money.
- Most times exchange rates fluctuate within a defined range but eventually they trend for a while before settling into a range again.
Once I really accepted these beliefs making money became really easy - but only after I had mastered the real holy grail of trading.
MONEY MANAGEMENT
TRADE MANAGEMENT
- All technical analysis is fundamentally useless.
- All technical indicators are fundamentally useless.
- All fundamental analysis is fundamentally useless.
- Big traders manipulate price to screw the little traders but they also have to push exchange rates up and down to make money.
- Most times exchange rates fluctuate within a defined range but eventually they trend for a while before settling into a range again.
Once I really accepted these beliefs making money became really easy - but only after I had mastered the real holy grail of trading.
MONEY MANAGEMENT
TRADE MANAGEMENT