Tuesday, June 2, 2009

Trade What You See Not What You Expect

Trade what you see and NOT what you expect is my first thought
before entering a trade.This mentality has helped me trade the market
for what it is. We don't know where it's going, only where it's been.

I trade with scalping only the GBP/JPY and sometime GOLD, I don't need to worry about the other currency pairs. I don't worry about the fundamental side of trading, trading itself is emotional enough. I agree with trading with the trend but I will go against it if the setup is right. Entry is key and that's what I look for. One doesn't have to be in a trade all the time to make money, you only need to be in a trade at the right time. Many traders see it moving and jump in the direction it's moving and next thing they know, their down. I'm not afraid to walk away and wait for another setup if I've missed the boat. There is always another opportunity. Patience is key in this industry. If you don't have any, GET IT.

Okay, I guess that's that. Welcome to the DollarsmagicFX Blogspot,
Enjoy your stay and good luck!!!

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