Sunday, August 26, 2018

Forex Tip 8/26/18

Stubborness is the death of many a traders.   When I wrote death, I mean busted account of traders.  My system is about flexibility or about going with flow.  Imagine a sailboat that is stubborn, it will probably break down and sink.   Now, imagine a sailboat that is flexible that goes with the flow.

TIP #1 Don't trade based on patterns: most patterns are too subjective and can be argued.

Rather, trade on what plainly you see.  Your eyes are the best evidence source, use them.  If the river or the market is flowing up, then plan your trip accordingly up.  If not, stay out.   Likewise, if you see river flowing down, plan your trip accordingly down.  If you don't have trip plans going that way, then stay out.   Rinse and repeat.

TIP #2 Dont' panic when things go sour.

A river can be curvy and stormy.   If you cannot handle, then get a mentor.   If ego gets in the way, then do something else.  This market is about making money and not about building ego.



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