the blod is not about oil. however, it participated in the action as well. despite any in-depth analysis the price does not conform with any technical indicators or logic. vice versa, the market does in most cases looks to be irrational. oil continued it's decline following yestardays' gap up. i expected in the previous posts and still await a short term bounce in oil prices and dependent currencies. needless to say, i convinced myself in preparing to execute this view. it's a first sin of a trader.
NEVER ANTICIPATE, TRADE WHAT YOU SEE. any fancy levels, fibo, trendlines etc are useless if the priceaction does not obey them by candlestick prints.
the second lesson repeated today was taken a long time ago and seems to be well forgotten:
DO NOT CATCH THE FOLLING KNIFE. never try to catch tops and bottoms, instead join the move with the trend.
it's not even rediculous, that by violation any of the rules, you break even more bans:
KNOW YOUR STRATEGY and STRICTLY EXECUTE IT. it was clear as the sky that there are no entries on top and bottoms of the market which are allowed by my trading style, however temptation is stronger than conscience
Without sticking to the mentioned above rules forex becomes a game of guessing and losing. Follow the rules above and enjoy trading instead of getting lots of adrenalin and a phychological breakdown without going away from your computor.
NEVER ANTICIPATE, TRADE WHAT YOU SEE. any fancy levels, fibo, trendlines etc are useless if the priceaction does not obey them by candlestick prints.
the second lesson repeated today was taken a long time ago and seems to be well forgotten:
DO NOT CATCH THE FOLLING KNIFE. never try to catch tops and bottoms, instead join the move with the trend.
it's not even rediculous, that by violation any of the rules, you break even more bans:
KNOW YOUR STRATEGY and STRICTLY EXECUTE IT. it was clear as the sky that there are no entries on top and bottoms of the market which are allowed by my trading style, however temptation is stronger than conscience
Without sticking to the mentioned above rules forex becomes a game of guessing and losing. Follow the rules above and enjoy trading instead of getting lots of adrenalin and a phychological breakdown without going away from your computor.
