Forex Market Commentary
The human mind and body can be likened to a motor vehicle; being mechanical in nature, eventually wear and tear takes a toil until the point of mental and physical breakdown.
Go to the Forbes list of wealthy people and just try to count how many people in that list of billionaires actually came from a trading background. Of course the most famous of all is George Soros who infamously broke the GBP in the 1990's. But not too many traders actually accumulate such vast fortunes quite simply because it is impossible in the long run to consistently make money year in year out over a period of ten years.
Trading can be a capricious and and harmful profession in the long run if were a vocation to be pursued per se, solely, without consideration of other business activities. In essence, the seasoned trader knows that he or she is against time and learns to temper down his or her initial enthusiasm to embrace a more pragmatic approach to trading over the long haul.
The advantages are opportunities for making money once or twice a day; the disadvantages are more likely that your day trades can go awry with sudden change in market sentiment.
Day traders in the forex markets typically use candlestick charts on a 5-mins basis as the prime method of interpretation of price action. Some of the trade criteria they adopt are as follows:
1. Central bank - taking positions on FOMC and ECB minutes release etc.
2. News releases - trading a Reuters breaking news
3. Time-zone cut - entering a trade at the start of Euro or NY session.
4. Momentum trades - counting bars, typically 5-7 successive green/red..
Without doubt all this activity requires the most astonishing level of concentration and peak mental alertness.
Forex trading as a vocation demands mental and physical health for optimum performance. That means a decent level of physical athleticism and mental stability. Certainly we are a baggage of emotions and they can at times inhibit our judgements. That is why activities like physical exercise and yoga and relaxing periods of time are essential as well as proper nutrition to make up the complete trader performing at optimum performance.
For myself I use Protandim NRf1 and NRf2 for physical and mental boost to keep my mind at body at peak performance over long periods of time.
Check it out:
Http://mylifevantage.com/goldenyearscharities
Give yourself an edge and trade at the best level of proficiency. To some extent you can remove several of the disadvantages of trading with correct nutrition and balance in mind and body to give you a more acute level of concentration and an overall solid performance. you owe it to yourself to build out your health parallel to your trading plans.
Go to the Forbes list of wealthy people and just try to count how many people in that list of billionaires actually came from a trading background. Of course the most famous of all is George Soros who infamously broke the GBP in the 1990's. But not too many traders actually accumulate such vast fortunes quite simply because it is impossible in the long run to consistently make money year in year out over a period of ten years.
Trading can be a capricious and and harmful profession in the long run if were a vocation to be pursued per se, solely, without consideration of other business activities. In essence, the seasoned trader knows that he or she is against time and learns to temper down his or her initial enthusiasm to embrace a more pragmatic approach to trading over the long haul.
The advantages are opportunities for making money once or twice a day; the disadvantages are more likely that your day trades can go awry with sudden change in market sentiment.
Day traders in the forex markets typically use candlestick charts on a 5-mins basis as the prime method of interpretation of price action. Some of the trade criteria they adopt are as follows:
1. Central bank - taking positions on FOMC and ECB minutes release etc.
2. News releases - trading a Reuters breaking news
3. Time-zone cut - entering a trade at the start of Euro or NY session.
4. Momentum trades - counting bars, typically 5-7 successive green/red..
Without doubt all this activity requires the most astonishing level of concentration and peak mental alertness.
Forex trading as a vocation demands mental and physical health for optimum performance. That means a decent level of physical athleticism and mental stability. Certainly we are a baggage of emotions and they can at times inhibit our judgements. That is why activities like physical exercise and yoga and relaxing periods of time are essential as well as proper nutrition to make up the complete trader performing at optimum performance.
For myself I use Protandim NRf1 and NRf2 for physical and mental boost to keep my mind at body at peak performance over long periods of time.
Check it out:
Http://mylifevantage.com/goldenyearscharities
Pieter Bergli - Trader X16
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Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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