DislikedSure you can call me Tommy mate. And please, dont be mistaken, I am very interested in your money flow analysis. Nevertheless, although you find money flow fundamental, it is not, speaking in economic terms, fundamental analysis. It is technical analysis based on correlation of several assets.
TIgnored
I find this sometimes gives technical traders a bias that they put to much faith in. I also find that by being more of a fundamental trader you need to learn and understand more of what is happening. My nature requires me to use logic and common sense and know why things happen.
Over the years starting during 2003 when I first became interested in forex I began to discover certain things.
Some of my thinking started to change after my first big loss during the September to October Meltdown in 2008 when EUR/USD managed to go from the all time high over 1.6000 and then go below 1.5000 and continue to 1.2500 or thereabouts in a matter of weeks.
That is when I started to realize new factors must be taken into consideration. I started watching Bonds and Yields and the direction of the Dow each day and my trading began to get back some logic that I had lost after the meltdown we all lived through.
I also started to notice the correlation between EUR/USD and EUR/JPY. Then I started to understand how USD/JPY effected EUR/JPY.
The more I understood allowed me to focus more on Bonds and Bond Yields. It all started to make even more common sense. I then began to develop better Risk Management methods because of times that we just saw occur in the last 24 hours because once a move starts like the one we just had, logic goes out the window.
I always try to learn more and more about technicals each day. This thread and the people that post here give me better insight into the technical side.
I hope I have explained in part some of my views. Perhaps my strength is in my having an open mind. I can learn from others by allowing my ego most of the time to be put aside and realize the only thing that is important is how much money have you made at the end of each month. My greatest joy is to help others make money since that is what forex is really about.
I wake up looking forward to another day of trading and learning. Trading forex for me is a way of life and a way of thinking.
This place we all spend so much time on has become very special and for that as always PipTrapper gets credit for keeping control and being fair. I may have better skills than some here however PipTrapper has something that every winning trader needs. That is a sense of honor and fairness and a good understanding of self and human nature.
After that WE all deserve credit for continuing to build a home for all of us that want a home outside of our own home.
Thanks Tom for your being yourself and speaking your mind and sharing your views.
Good post Rekon.
