The best forex question ever
- Thread starter Boberson
- Start date
-- Asking (the right) questions... finding the answers.
-- Thinking.
-- Being a student of the market.
-- Being a contrarian.
-- Paying attention.
-- Not following the herd.
Iconoclast
I agree with all of you but would like to add one thing: logic. I look for times that the market makes relatively the same movements and try to ride them. The reasons for those movements are logical. So I stick to my system and it works. Every day, same time, same direction, same TP and SL, same currency. I developped my system last year, backtested it, and started trading it last november. So like someone said previously, test it, backtest it, and manage your money. Enjoy.
StreamlineTrade
Guest
Quote from OddTrader:
Q
"What is the secret of your success in trading?"
"Two words: Right decisions."
"Then how do you make Right decisions?"
"One word: Experience."
"So how do you get Experience?"
"Two Words!"
"What are these two Words, please?"
"Wrong decisions."
UQ
Very true.
However (and I think you will agree), I dont think the skills to succeed are anything to do with the asset (eg FX). If you have the right attitude, you can trade any market.
True, some FX traders do put in a lot more hours in a 'shift' than other asset traders, but then they also take equal time out. Newbies dont get this, thinking they must put all their time in they can to get the experience, and forfeit a balanced life. Many of lifes best lessons are equally applicable to survival in the market. You dont receive lifes lessons sitting behind a screen 8-16 hrs a day.
Log off & live a little!
