I have been shopping my strategy around to a couple of hedge funds here in NYC today. I was asked why my system has experienced such amazing success since I have gone live. After giving this considerable thought I said it's all about buy and sell stops. I can't explain why it works it just does. I mean if I open a market order instead it will always move against me. ALLWAYS! It's insane and totally illogical. But if I place my orders using stops it's like it's a less arrogate statement to the fx gods. Open a market order and the gods say "What? How dare you think you know where I will take this currency. I will teach you". But stops (or limits for that matter) are like saying to the gods, "Ok, I am meekly placing this order making sure to never make eye contact with the fx gods. They see this as respect and reward your humility with a move in your direction"
I know this sounds like utter nonsense. But I swear I almost think it is true, almost.
One thing is for sure and it is something we have all learned the hard way and that is this beast i.e. the fx market will eat you alive if you display any sense of arrogance or pride.
Pride comes before a fall. It always has and it always will.
Never forget the secret to successful trading is GIVE GENEROUSLY to the less strong among us and you assure your own success. THE MORE YOU GIVE THE MORE YOU GET! It is that simple!!!
Happy trading!!!!!
I know this sounds like utter nonsense. But I swear I almost think it is true, almost.
One thing is for sure and it is something we have all learned the hard way and that is this beast i.e. the fx market will eat you alive if you display any sense of arrogance or pride.
Pride comes before a fall. It always has and it always will.
Never forget the secret to successful trading is GIVE GENEROUSLY to the less strong among us and you assure your own success. THE MORE YOU GIVE THE MORE YOU GET! It is that simple!!!
Happy trading!!!!!