I've been lurking on these forums for a good time now, and like some, I've noticed the overwhelming number of threads about systems and old trading facts that people reiterate... Those posts and threads originate mostly from people who are trying to learn the market, but they mostly focus on crossing ma's and whichever indicators they lay their hands on, and trading psychology, when they should be first studying the structure of the markets and the fundamental influences, among other things. Not to say technical analysis as no value, quite the contrary... getting a feel for the chart, the movement of the price, is a very good thing, but it's not as good if you can't relate it to market events, in my opinion.
And no forex meme is going to make you profitable!
"Let winners ride", yet "don't let a winner turn into a loser" is a good one, and "cut your losses", but try to not get shaken out of a winner! All those advices are pointless if you don't know which side is the right side!
Instead of discussing mechanical systems, which in my opinion, do little in the way of profitability, and repeating empty sentences, we should be focusing on analysing the current market conditions: sentiment, major current factors that affect the currencies, incoming announcements and their expected relevance to the value. The market is dynamic, not static. I'll be hypocritical and repeat a sentence I've read before: the market is a live beast!
Kudos to those who post gems on forex factory, which I won't name because I don't want to vouch for anybody and forget other people, but I liked Hanover's thread about trading bs, that's one of the must see for anyone who just picked up trading to avoid pitfalls during the learning process.
At the same time, I hope my post was of some help to someone, altho I don't pretend to hold any more truth than any one else on these forums. To clarify, I do think there is a lot of bullshit around here, but I also believe it is important to use critical thinking before accepting anything including everything that I've written above, take it with a grain of salt.
Let this thread exist to discuss things that matter. I'll make another post soon.
And no forex meme is going to make you profitable!
"Let winners ride", yet "don't let a winner turn into a loser" is a good one, and "cut your losses", but try to not get shaken out of a winner! All those advices are pointless if you don't know which side is the right side!
Instead of discussing mechanical systems, which in my opinion, do little in the way of profitability, and repeating empty sentences, we should be focusing on analysing the current market conditions: sentiment, major current factors that affect the currencies, incoming announcements and their expected relevance to the value. The market is dynamic, not static. I'll be hypocritical and repeat a sentence I've read before: the market is a live beast!
Kudos to those who post gems on forex factory, which I won't name because I don't want to vouch for anybody and forget other people, but I liked Hanover's thread about trading bs, that's one of the must see for anyone who just picked up trading to avoid pitfalls during the learning process.
At the same time, I hope my post was of some help to someone, altho I don't pretend to hold any more truth than any one else on these forums. To clarify, I do think there is a lot of bullshit around here, but I also believe it is important to use critical thinking before accepting anything including everything that I've written above, take it with a grain of salt.
Let this thread exist to discuss things that matter. I'll make another post soon.
“Nothing great in the world has ever been accomplished without passion.”
