Thanks again for your insight Barron; everyone here appreciates your input.
My own thoughts on picking tops and bottoms is I don't have to be right; but I do have to pick a bottom somewhere in order to go long. Then I just sit on my trade until it is profitable, maybe a day, a week, or a month from now. Meanwhile I collect my swap.
Let's say I buy a mini lot (that's $10,000 at IBFX). I put up 2% or $200. Everyday I collect $1 swap. At the end of a year that is $365.
Or I can put my $200 in my Bank of America savings account. At the end of a year B of A pays me .001% interest. That is 20 cents.
Or I can put my $200 into my 401k stock market retirement account. The Dow Jones average is lower today than it was in the year 2000, some 12 years ago.
P.S. Bank of America is not our central bank. The US central Bank is called the Federal Reserve Bank, or the Fed for short. http://www.forexfactory.com/images/icons/icon7.gif
My own thoughts on picking tops and bottoms is I don't have to be right; but I do have to pick a bottom somewhere in order to go long. Then I just sit on my trade until it is profitable, maybe a day, a week, or a month from now. Meanwhile I collect my swap.
Let's say I buy a mini lot (that's $10,000 at IBFX). I put up 2% or $200. Everyday I collect $1 swap. At the end of a year that is $365.
Or I can put my $200 in my Bank of America savings account. At the end of a year B of A pays me .001% interest. That is 20 cents.
Or I can put my $200 into my 401k stock market retirement account. The Dow Jones average is lower today than it was in the year 2000, some 12 years ago.
P.S. Bank of America is not our central bank. The US central Bank is called the Federal Reserve Bank, or the Fed for short. http://www.forexfactory.com/images/icons/icon7.gif