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I must admit it does pay to plan ahead at the beginning of the week for swing
trades.
I get quite a lot of trading ideas sent to me from trading companies around the
weekend. The one thing that strikes me is this. Are they trading the things they
send out! I don't think so some how.
A trader I know got in touch enquiring about my forex course. I said to him my
ideas are different from the main stream ideas others might have on forex but
you notice I post my account on many of the plays I take. I don't see many other education/trading
companies doing that.
For instance you might see an article from a someone on why the risk tolerance
on this is blah blah blah and traders will be looking to do abc. But is the guy
trading his views? I don't think so He could be just the young guy in the office
reporting on whats going on, trying to do his job which is to create interest
in the markets in the hope that you trade with his company.
This is why I say learn from a trader and not form a trading company that's good
at marketing. The bigger that company is the more the info will come from someone
way down in the pecking order who is just going into the office and doing his
job.
I'm trading the general market this week and I'm short and up in a big way from
last week after taking a weeks money off the table. In all honesty I can see reasons
for a bounce and I can see reasons for a collapse and I can see reasons for hesitation.
I need to structure a plan that has me covered in essence I'm going to hedge.
A perfect hedge reduces your risk to nothing, except for the cost of the hedge.
Then when the market tips its hand I'll take off one side of the hedge. That's
my plan. Which ever way the market goes I'm in the money. Job done.
That's a comment from someone who is trading it not someone in an office whose
just writing about it.
That's why I say learn from a trader, they are actually doing it and that is
different from someone writing about it. |
