|
 |
|
|
Financial Trading
I have bought many financial trading systems over the years, and also subscribed to many `tipsters`, and without fail I have been let down by them.
There are a myriad of reasons, looking back, why this has been so: One of the main ones is getting in at the wrong price when the market has already moved. You receive an email telling you to buy the Euro/USD at 1.5726, and lo and behold when you look at the price it is 1.5756. Nevertheless the market is moving as predicted, so you trade at the higher price only for the market to take some of their profits and move back on you.
The next day you receive an email from your analyst tipster congratulating himself on a great trade! Another favourite is for a trading system to record say 40 pips profit one day, which was perfectly feasible, but only if you got in the trade at the optimum time, and got out at the optimum time. Meanwhile you did neither and recorded a 5 pip loss! One major problem is usually in your head. Psychology and being able to evaluate and make the right calls under pressure is so important in trading.
As you may be aware, the markets never move in a nice straight line, and this can play absolute havoc with your blood pressure.
And so what happens? You are in a winning trade, panic as the market starts moving back and pocket a 10 pips profit, only for the market to take a huge move back the other way. You could have made a killing if only....
You get in a trade which goes wrong virtually from the off, you really dont want a losing trade so move your stop-loss further out, only for the market to come gallopig after you! In the end you bow to the inevitable and take a huge hit. Trading successfully takes a long time to learn, as you have to go through the bad times and make all the mistakes that everyone else does before you realise how the markets operate and how you can start winning the daily battles.
It helps to look at the trading charts, moving averages, stochastics etc, but you must also win the battle in your head and have a clear risk/reward strategy and sound system to follow. You may ask what strategies I recommend to follow?
I have developed my own clear trading strategy but that is for another day! Author: Des Ingham.
Member of Team GDI Pro: http://www.teamgdipro.com/finalsuccess
|
|
 |
|
 | | SOK liked this intel. Jun 19, 2011 |
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
The copyright for this content entitled "Financial Trading" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
|
|
This intel was contributed by Des Ingham
Des Ingham
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
