Predict market is easy | Forex Factory

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Predict market is easy

  • #1
  • First Post: Sep 9, 2007 4:01am Sep 9, 2007 4:01am
Another confirmation how important is discipline and psychology

10 loser traders took part in poll

8 of them predicted 80% of market movement

but in fact they were losers

to win it is not required to predict currency rate.
kiss the trend
  • #2
  • Sep 9, 2007 5:44am Sep 9, 2007 5:44am
Quoting fx-trader777
Another confirmation how important is discipline and psychology

10 loser traders took part in poll

8 of them predicted 80% of market movement

but in fact they were losers

to win it is not required to predict currency rate.
In my opinion, the biggest problem of trying to predict the market move is to create a strong market bias in my mind and thus potentially strentch your losses larger and larger as you are "sure" that that losing trade you're in is "bound" to turn around in your direction.

Having a strong bias in your mind is dangerous as you tend to not respect your own stoploss levels.
  • #3
  • Sep 9, 2007 8:12am Sep 9, 2007 8:12am
In golf there is a saying: Drive for show and putt for dough.

In trading it should be: Enter for show and exit for dough.

Entries and predictions are by far, the least important aspects of trading. If you consider someone's predictions and opinions anything more than mild entertainment then you still have a lot of travelling to do on the path of enlightenment.
  • #4
  • Sep 9, 2007 7:42pm Sep 9, 2007 7:42pm
Timing is more important than direction predicting, anyone can look at a chart and see where its going (up, down or sidways) But without the right timing its useless. Its like swinging the club when the ball already fell off the tee.
Just Trade It
  • #5
  • Sep 9, 2007 7:49pm Sep 9, 2007 7:49pm
oh yeah! predicting direction and making money are two different things, unfortunately. i cant count how many times i lost money when my prediction was right (though i have made money when i was wrong so i cant complain LOL)

this is, of course, because "timing is everything." i find that patience is the best friend of a predictor... it lets you wait around for the rest of the market to disagree with you (ie buying dips, or selling rallies).
Relax and be happy.
  • #6
  • Sep 10, 2007 12:04am Sep 10, 2007 12:04am
"Giving up smoking and predicting the market are the easiest things in the world. I know because I've done it thousands of times." Mark Twain and Me.
  • #7
  • Sep 10, 2007 3:37am Sep 10, 2007 3:37am
Quoting merlin
oh yeah! predicting direction and making money are two different things, unfortunately. i cant count how many times i lost money when my prediction was right

this is, of course, because "timing is everything." i find that patience is the best friend of a predictor... it lets you wait around for the rest of the market to disagree with you (ie buying dips, or selling rallies).
Boy, that sounds familiar.
Trust price. Know yourself.
  • #8
  • Sep 10, 2007 3:43am Sep 10, 2007 3:43am
Quoting Igrok
"Giving up smoking and predicting the market are the easiest things in the world. I know because I've done it thousands of times." Mark Twain and Me.
HAHA Boy, Mark Twain sure has dozens of classic quotes. What an eloquent man he must have been!
  • #9
  • Last Post: Sep 12, 2007 2:47am Sep 12, 2007 2:47am
When I was an anchor of business program, sometimes I made prediction of EURUSD (in my country trade recommendation is not restricted). In 80 cases from 100 I was right, but I was not able to dare and trade it. I followed my intraday system only. But as an anchor I was successful, because audience trusted me
kiss the trend
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