Sunday, June 28, 2009
Desire to be right
In all my conversation, 1 thing that never escape my attention is the desire to be right in your trades. After those indicators lined up superbly and the trade is taken, many of you couldn't understand why the market didn't move the way it is supposed to be. And the blame game started. Blame the insiders, blame the forex brokers, blame anyone. The truth is..Market couldn't careless who we are, what indicators we are using, how confident we are on our trades etc... It (the market) will do what it wants to do. Think about it for a minute. There are hundreds of indicators, thousands if we were to include those exotics. Even the most popular indicator has so many different settings. If that is the case, why on earth do you think that market has to conform to your indicators? We can only control ourselves, not the market. The better indicators are those that can better reflect what the majority see so that we can capitalize on their thinking. This simple fact alone could bring in numerous profitable trades to you. You'll be hearing a lot more on this issue in the future.
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