DislikedI am actually totally fed up with all that esoteric talk like "stick to your strategy", "use proper MM", "not the the strategy but your psychology is important", "cut losers and let winners run", blablabla... Not trying to offend anyone. But I get the impression that everyone is repeating the same phrases all over again and I wonder who of all those repeating that phrases is actually profitable at all? Having a profitable strategy at all is the main thing in the first place. Sticking to it, if I knew it was profitable would be easy. But which strategy...Ignored
The rest imo, is just building on this edge. Price trends, and if you can exploit the volatility that accompanies the trend, you get to make money.
In retail FX, you can push this edge to the intraday time frame by employing leverage and tight stop-losses. That imo is the beauty of FX.
"The price change from say the 1st of January to the 31st of December for a particular exchange rate is 10, 20 or rarely 30 percent. If you sum up all price move- ments larger than 0.05% during the course of one year and deduct transaction costs, then you could, with perfect foresight, earn 1600% without lever- age - that is more than 50 times the risk of 30 percent, so a big opportunity to make money does exist. "
How to Trade, Richard Olsen
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