Hi fellow traders.
First boring:
When i started had no clue about FX. I had to explore things propabyly explored.
Here reflection, so new ones dont't have to suffer from lack of tutors. If old ones would add something, or comment, good to share thoughts.
Disclaimer?:
Theres no dictionary nor methd here. Just reflections I wish someone told me before
Interesting part:
1. The newest of my thoughts is that no one know what real price is nor should be, according to any fundamentals or any other instruments.
It worth of thinking.
It's means that all the time, price can go either up or down.
All we [we retail traders, we bankers and so on] know, is a point where last time price turned back. [Where are some fib levels, pivots and so on]. That's why we are usually afraid of buying near resistance points etc. And it has nothing to do with real currency value.
2. Another thought come frome my wonderfull girlfriend question
What trader should be like.
I think most important is some kind of acceptance for some level of uncertainty.
It happen many times, that when you are 100% sure - it's too late.
[understeand please that 100%=100% it means "Yes it must be trend"].
It means that one day you start to feel comfortable or uncomfortable with your position or size of lot - this happen when you breathe and sleep with your candles quite a lot, or Holy Angel come to you in dream and tell, what to do. Most of the time if you wanna make money - say good bye to neurosis
3. Another, more practical:
Session time is when plenty of people need to feed their families from FX.
It's much easier in trending market.
So its more probable, that last bottom or top on your chartaround opening hours will be high or low for couple of hours = and price will go one way 50, 100 or so pips.
If it will range - less people will feed their family, or it means, that some other pair went up or down.
This knowlidge can give you three 10 pips loosers each covered by 50 or 100 pips gainer.
In near future I hope to learn is tat worth to post threads on FF
Chris
First boring:
When i started had no clue about FX. I had to explore things propabyly explored.
Here reflection, so new ones dont't have to suffer from lack of tutors. If old ones would add something, or comment, good to share thoughts.
Disclaimer?:
Theres no dictionary nor methd here. Just reflections I wish someone told me before
Interesting part:
1. The newest of my thoughts is that no one know what real price is nor should be, according to any fundamentals or any other instruments.
It worth of thinking.
It's means that all the time, price can go either up or down.
All we [we retail traders, we bankers and so on] know, is a point where last time price turned back. [Where are some fib levels, pivots and so on]. That's why we are usually afraid of buying near resistance points etc. And it has nothing to do with real currency value.
2. Another thought come frome my wonderfull girlfriend question
What trader should be like.
I think most important is some kind of acceptance for some level of uncertainty.
It happen many times, that when you are 100% sure - it's too late.
[understeand please that 100%=100% it means "Yes it must be trend"].
It means that one day you start to feel comfortable or uncomfortable with your position or size of lot - this happen when you breathe and sleep with your candles quite a lot, or Holy Angel come to you in dream and tell, what to do. Most of the time if you wanna make money - say good bye to neurosis
3. Another, more practical:
Session time is when plenty of people need to feed their families from FX.
It's much easier in trending market.
So its more probable, that last bottom or top on your chartaround opening hours will be high or low for couple of hours = and price will go one way 50, 100 or so pips.
If it will range - less people will feed their family, or it means, that some other pair went up or down.
This knowlidge can give you three 10 pips loosers each covered by 50 or 100 pips gainer.
In near future I hope to learn is tat worth to post threads on FF
Chris