The 80/20 phenomena

What is this ? Well, is it a win/loss ratio ? Not quite. Trading is actually 80% mental / 20% know how. Surprised ??? It takes discipline to follow your method/approach with confidence and consistency. That would give you the edge as a trader. When you have the discipline to believe in your approach/method, and consistently apply it without second guessing , you have an edge . One example is waiting for the set-ups in your approach then taking the trade. Thats discipline !!!! So practice, practice , practice !!!!

Why Right Edge ??

This should be simple and obvious to "traders". Almost all "traders" use some form of price charts to trade the FX market. The prices are all on the left side, which means prices already dealt with or is currently where the market is at. Can't really go back wards to trade yesterday's prices can we? So the "bucks" come from whats going to happen next on the " right edge" What happens on the right side of the chart is what's important. But come to think about it....if one could buy the low yesterday and the sell the high yesterday..that would be an amazing "edge" ......hmm..... -)) Well, what ifs don't pay the bills, but what is may.

Intriguing pandemic....

Thumb through the newspaper and there must be 5-8 ads on trading stocks/options/Fx , implying promises of wealth accumulation . Some even claim many of their "students" stopped working and became full-time traders. Well, with all this wealth generation going on , the job market must be deficient of workers. Jobs have to be a plenty out there. The FX market has been around a long time and certaintly not new in sunny Singapore. But with the internet , it is now more "reacheable" for the guy on the street. Anyone now can open an account on the net and trade from home or anywhere there's an internat connection. Wow...the allure of "easy" street must be mesmerizing. well, at least for one thing, we now know where former bank traders are.....at home in front of the PC. -))) Which answers the age old question.....traders don't fade away they just stay home. The new " homebody" society....but racking in the bucks.