Newsflash
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If you ask me whether the market will have moved up or down by this time next month, well again, I may as well flip a coin, because I still don’t know. If you ask me whether the market will have moved up or down by this time next year, well I may as well flip a coin, because I don’t know. But… if you ask me whether the market will move up or down in next few minutes, well I will have a definite opinion. Why? Because if I can see the CURRENT state of buying and selling in the market NOW, then I can make a reasoned and fairly accurate estimate of what the market will do in the next few minutes and moments. |
Currency Trading Nature of the Trading Business | Nature of the Trading Business |
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| Written by admin | |
| Friday, 07 November 2008 | |
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Consider the following: As a trader you are in a business. Your strongest opponent has plenty of capital. He follows a program and he does it without emotion. He is totally aware of the fact that no one knows where the next tick will fall. Whereas he usually has good insights regarding the major forces that drive the market, he does not fool himself into thinking he can explain the vagrancies of price movement intraday or even from day to day. He knows that no one truly can.
The successful trader has learned his lessons by actually trading. This is a business driven by fear, greed, and selfishness, and very few worthwhile pointers are given out by the industry, other traders, or the myriad of so-called trading gurus who plague the pages of trading magazines and pages of their websites. The most valuable information is closely guarded and not often put in books or on web pages. Learning about trading is a ‘forever’ experience. As the markets change and as we adjust to them, we learn. The learning is ongoing. It stops only when you no longer trade. During the time we trade we can always improve. Trading is a great business for those who master it, and those who master it are traders who have mastered themselves. |
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