Knowing When, Where and What
When you are in the trading world do you find yourself stuck in one mode. You know you think you know the EUR/USD best so you stick to that market even though there is nothing really there to trade. Most traders do hoping for the best and they miss out on some monumental opportunities that are available in other markets.
What I try to do here at "Profit with Forex" is to tell you where the opportunities lie so that you don't waste your time and money chasing price action which usually only results in one thing.
Losses!
This week I told you to stick to oil. A For the past few weeks gold and bonds. Then the stock indexes and so on.
Look I am not perfect. I am not 100% right. No one is.
However if you glance back in the files at my calls I doubt very much that you will get any better in the trading world at the moment. As you know timing is everything. It really is. If you are not patient in this market you will find that it will chew you up. It will break your spirit and then your bank account.
If you are into the EUR/USD then you want to be following my blog on trading the EUR/USD and USD/JPY. You won't make a lot of pips but then again you won't have to if you don't take losses.
The blog is here:
http://tradingtheeu.blogspot.ca/
The calls are there for everyone. Not just me.
Obviously I am not going to give you all my information but I will try to keep you on the right side of the market.
So stay tuned and try to make some money with me. The only way to do it is to understand risk. It is the most important skill you can develop. That coupled to patience can make you 10-20% a year in the market. You may say that is peanuts. Sure it is. Go ahead and see how far you get trying to do that in a month. I assure you the law of diminishing returns will crush your hopes long before you make your millions. I don't believe in miracles this way. You might get really lucky but chances are you are not a Richard Dennis. So don't try to be one. Be yourself. Be consistent. That is all you need to make money. Have a good weekend and I will update you before next week. I made around 650 ticks this week on oil alone. Not using crazy leverage obviously. However that is the point. There is a time to use leverage but not very often. All the best and stay tuned.
What I try to do here at "Profit with Forex" is to tell you where the opportunities lie so that you don't waste your time and money chasing price action which usually only results in one thing.
Losses!
This week I told you to stick to oil. A For the past few weeks gold and bonds. Then the stock indexes and so on.
Look I am not perfect. I am not 100% right. No one is.
However if you glance back in the files at my calls I doubt very much that you will get any better in the trading world at the moment. As you know timing is everything. It really is. If you are not patient in this market you will find that it will chew you up. It will break your spirit and then your bank account.
If you are into the EUR/USD then you want to be following my blog on trading the EUR/USD and USD/JPY. You won't make a lot of pips but then again you won't have to if you don't take losses.
The blog is here:
http://tradingtheeu.blogspot.ca/
The calls are there for everyone. Not just me.
Obviously I am not going to give you all my information but I will try to keep you on the right side of the market.
So stay tuned and try to make some money with me. The only way to do it is to understand risk. It is the most important skill you can develop. That coupled to patience can make you 10-20% a year in the market. You may say that is peanuts. Sure it is. Go ahead and see how far you get trying to do that in a month. I assure you the law of diminishing returns will crush your hopes long before you make your millions. I don't believe in miracles this way. You might get really lucky but chances are you are not a Richard Dennis. So don't try to be one. Be yourself. Be consistent. That is all you need to make money. Have a good weekend and I will update you before next week. I made around 650 ticks this week on oil alone. Not using crazy leverage obviously. However that is the point. There is a time to use leverage but not very often. All the best and stay tuned.
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