what do we think, then? re. YEN! 4 year bull! yay! 1 week SLUMP. I went long but there is data on the contrary, and the charts are looking to breakout either way
You'll be busy literally GIVING a broker the other side of a real trader's trade anyway. So go ahead and do it under the influence. Nutcase... thoams I can tell by your verbiage you have no freakin' idea what you are talking about. Try to put on your brain hat for a moment and run these numbers 13 up years X $100,000 to $300,000 depending on the year. Subtract the 2 down years and wait through the 5 flat years and guess what the " broker " who's taking the other side of my trades -- well he's down over $1.4 million dollars!
In no particular order. - Learning to take small losses quickly and without regrets. - Letting the winners run as much as humanly possible. Even if they retrace, breakeven trades are better than losses any day of the week. However, a real runner is like hitting a jackpot. - Related to the above but I noticed I was willing to let losses run against me in "hopes" of breaking even on the bad trades but I would take profits on the winners asap. As soon as I readjusted, it made all the difference in the world. - Trend trend trend. Identify it, and stick to it. You never ever go against it. Sounds trivial but its not. Especially when the trend changes on the fly, you need to be able to recognize this and change your plans if necessary. This requires special attention because sometimes is mentally exhaustive when you spent hours developing a plan and all of the sudden the plan is invalid due to a change of heart in the market. Absolutely vital that you are prepared for this. - Price action, tape reading exercises, detective plays on key areas like support/resistance and important pivots. - Ditching most indicators and favoring geometrics. Those fancy lights just distract you from what matters, price and volume. - Planning the trade and trading the plan. Instead of planning the trade and doing whatever the hell you want because you got scared or greedy. - No stupid trades like overnight swinging because I "think" it will go up or down. No gambling, that's what Vegas is for. - Enter the day with a neutral mentality. No bull, no bear. Let the market internals guide you. You as a trader, dont know shit, the market does so ask him, he will tell you if you look closely. - Recognizing setups and patterns. Markets trend in cycles, it is possible to feel a sense of deja vu and profit from it. - Rarely, does price move in a straight line, anticipate what usually happens. - Patience. No clear signals, no trades. Takes me just one clear signal to make some good cash. Patience, become a predator, a hunter for good setups. - Become a soldier. You got a book of rules, you follow them, if you don't, kick yourself in the ass hard because if you dont the market will kick you even harder. That's all I can think of. Neet