Dislikedsold yen at 106.90 and coverd at 106.49-thought it would stall at 106.43--looks like price is headed to 105.87Ignored
The Dove - Forex Trainer
USD/JPY Discussion 7 replies
NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
Dislikedsold yen at 106.90 and coverd at 106.49-thought it would stall at 106.43--looks like price is headed to 105.87Ignored
Dislikednot a time to be a buyer.
Impulse is strong. I suspect the retracement will be shallow. Followed by more selling. Caveat to buyers.Ignored
DislikedDepends which trendline. Technically we broke the uptrend line, however, we touched to the pip the downtrend line at 106.17 (drawn off the 10/15 and 12/27 highs). That comes roughly in line with today's S1, will be interesting if it doesn't hold..Ignored
DislikedHello Everyone,
….. There are hundreds of ways of making money in this market……. But one thing is for sure, in order to make it; you must always be focus and have complete patience with yourself, and also with the market.
……. There are so many ways that you will hear as you search and seek for the answers….. The only true answer is your ability to learn this market as it truly is; the momentum, the highs, the lows, the closings, price level, price movement and so on……. That my friends are what you need to learn…… Once you have done that, then you can, and will be able too, understand indicators.
This is why there are traders that have no use for indicators and my perception, and it is only my perception, is because they lack the understanding of what the market is really all about.Ignored
DislikedIf you knew what I know you would be there also....... Smiling - as for the trend it is still up you just can't see it......Ignored
Disliked...If one finds themselves itching to to be in a trade it's usuallly best to stay out. Here's a great song to listen to while trading to remind you of that. http://www.ijigg.com/songs/V2BEF7DCPDIgnored
DislikedFeb 4, 2008 8:31pm
ItalianSharp
Member
Member Since May 2006
Posts: 214
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I believe most traders - regardless of them being forex traders, futures traders, commodity traders, or stock traders - fail because they don't have a real edge.
Most of the reasons I read from forums, books, articles only focus on discipline, money management, adequate capital, experience, etc...
However, if you only have discipline, money management and enough capital to trade and you still are missing a real edge, it'll only be a slower death.
I also believe it's a lot easier to be disciplined when you have a real edge than when you don't have any edge.
If you seem to be on the wrong side of the market most of the times, the temptation to tweak your system around is always around the corner. How can you be a disciplined soldier if you have no reward from what you are doing? Unless you are a masochist, I can't really see how someone can stay disciplined using a losing strategy.
What about experience? Well, experience can just help so much. If you still have no edge, your experience will be brutal and will only tarnish your confidence permanently.
In conclusion, a trader fails because his strategy doesn't provide him with an edge good enough to make money.
Many losing traders think that money management can fix this handicap and try their luck with "averaging down" until they blow up their account and go broke.
If you don't have an edge, don't trade. Forget about ratios, money management, discipline, experience...it's all useless if you don't have a real edge.Ignored
DislikedBruce what is your agenda? There has to be a purpose to your constant giving out your resume? What are you selling Bruce? Come out with it already.Ignored