(We are sharing some of the stuffs that we read from books or online articles in our Forex Trading Blog. Objectives is to throw some thoughts and ideas for traders. Trading is a business, it can't be a blind trading system)
Most traders like to predict the market, but can it really be done? In my opinion, the answer is no. For me, I advocate management. We manage our decision to put a trade, decision to call it off, decision to ride the trade, decision to risk how much, etc.
Analysis help us to come up with a trading plan. We interpret the market based on what we see on the charts, identify the setup according to our plan and execute with the plan risks and rewards. And we execute on a timely manner and manage the trade as we gather more information from the market.
The above thoughts came about when I read this line below
"There is a huge difference between trading correctly and making an accurate market prediction"
Wednesday, June 30, 2010
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