Food for thought.....
Increasing your chances of being right!
We dont have to be an expert on everything we can get by with just understanding cause and effect.
I make my living just trading USD/JPY and to do that then all I need to understand is its opposite relationship to EUR/USD in technical terms.
And what drives there movements then I just need to understand whats going on at the ECB/FED/BOJ.
Then if I know the above whats going on then I need to understand that I should only be trading in the direction when the fundamentals and technical match. No point in a swing trade as my odds of success have just got limited when my odds will be higher if I follow the aforementioned.
So if I follow the above then all whats I have to determine is how I will time my entries.
But before I do that! An entry! I will do a reality check because the market cycle cant be ignored when determining entries and targets. If last 1 year high is 120 then I really should not be thinking about going long at the end of a cycle. Buy low sell high we all herd that before! Cant be ignored. Value is Value.
Increasing your chances of making money from being wrong!
Dont over leverage give a bad trade plenty of room to be a good trade later on. You can give it time if you understood your market cycle and ur bad trade matched the fundes
Sorry for typos. I know you understand
Increasing your chances of being right!
We dont have to be an expert on everything we can get by with just understanding cause and effect.
I make my living just trading USD/JPY and to do that then all I need to understand is its opposite relationship to EUR/USD in technical terms.
And what drives there movements then I just need to understand whats going on at the ECB/FED/BOJ.
Then if I know the above whats going on then I need to understand that I should only be trading in the direction when the fundamentals and technical match. No point in a swing trade as my odds of success have just got limited when my odds will be higher if I follow the aforementioned.
So if I follow the above then all whats I have to determine is how I will time my entries.
But before I do that! An entry! I will do a reality check because the market cycle cant be ignored when determining entries and targets. If last 1 year high is 120 then I really should not be thinking about going long at the end of a cycle. Buy low sell high we all herd that before! Cant be ignored. Value is Value.
Increasing your chances of making money from being wrong!
Dont over leverage give a bad trade plenty of room to be a good trade later on. You can give it time if you understood your market cycle and ur bad trade matched the fundes
Sorry for typos. I know you understand