Who Got Rich and Who Got Burned?

Who had a far enough stop and shorted the dollar this week to riches!?

Who kept thinking it was going to hit a resistance point and lost their shirt?

I realize the winners are more apt to blow their horns than the losers.

I would venture to say there is a reason for this. And it's simple. This doesn't happen to those people very often, so when it does - they gloat.

But then again, gloating shows a lack of self-control, and in that....a lack being able to ride it out in the long run. These same people probably cannot hack being down 80% of their stop. It's all a numbers game. If you practice money management, you lost 1 or 2% on going the wrong way on this trade - not a big deal. (Of course, there wasn't a signal to go short.) If you practiced money management, this trade didn't make you rich either.

I would have taken the opposite side of that trade, if I was an idiot, and jumped the gun. However, as an entry short never happened, so be it.

Thank God for the Singapore Dollar and Canadian Dollar, and the profit they gave me this week, but when I get it - it's all U.S. Dollars....so the pair doesn't matter.

However, as I know you went long on this trade, congrats - it was a good trade.

Clock

Who bought some yen after the big drop to 76.50 and made tons of pips in the last week?

Its now at 83.30 almost 700 pips up in one direction in 2 weeks!
Is anyone still holding on to this trade if you bought? Do you have statement?

I personally didn't place a trade, but I have to ask the question:
If you profited off of a disaster, wouldn't you feel guilty in a way?

~Tim

You need proper knowledge and skills to make money from the forex market. Without knowledge and skills, you can not survive in this risky market.

If you want to become successful in the forex market, you have to get all the basic knowledge of forex perfectly and properly.

It's hard to know, man. if someone has already been in deep markets you should only see volume. Perhaps only rich people will buy technology and good vision.

Greed destroys the trading career. So every trader should give up greed and fear.

Professional traders always try to follow money management and risk management. And they never create a trading strategy outside of discipline. And so they benefit from trading.

Every trader should give up all kind of human emotion in trading. Sometime EA is also helpful.

Once you get trapped in greed and fear, it gets difficult to come out of it. So, traders should always be careful.