Forex Trading System - Do You Need to Predict the Future?
It is true that no one can always accurately predict the future in currency market. If someone could do it he would quickly became the owner of all the money in world. However you don't need to predict the future to successfully trade in the market. For example the most successful investors like Warren Buffet do not predict the market. What they interested is to increase their investments in the companies that give them highest return. They are not interested in crystal ball of market prediction.
Market predicts and defines itself. We as traders do not need to predict its movement. All we need to do is to synchronize our actions with the market movements. We need a trading method to do that. For example we need a method that allows us to define the current trend. Such a method should harmonize us with the market. The whole idea of predicting the market is closely related to the idea of having control over the market. It's a typical utopian idea to predict to be able to control. This approach is fatal for trader's psychology. Such trader will blame the market because it moved into a wrong direction then he has predicted. It's the source of losses for most trades.
Most traders think that the main reason to succeed in trading is the ability to predict the market. They will suffer because they think that they know better what market should do. I think that a good trading strategy does not have to predict and control anything in market. That means it should exclude emotions of trader from the decision making process completely and leave him only the opportunity to act by executing trades.
I know such systems exist. The difference of these systems from the ones that based on predictions is that they have already incorporated loses in themselves that are related to lagging indicators. The only problem with those systems is that thy may not be as profitable as the systems based on traders discretion. But until you learn to make profit with such mechanical system you won't be able to control your emotions to make profit with discretional systems.
Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trading Forex.
Source: http://ezinearticles.com/
Added: October 3, 2008
Research and Markets: Nutraceuticals in China and Japan Report ... - MarketWatch
Worldwide Server Market Decelerates in Third Quarter, Exhibiting ... - MarketWatch
IT News Online Worldwide Server Market Decelerates in Third Quarter, Exhibiting ... MarketWatch - Volume systems revenue declined 7.2% year over year in the third quarter, the first decline for this important market segment in more than 14 quarters. ... IDC: Factory revenue in worldwide server market fall 5.2% in Q3 ... Report: IBM market share, revenue up EMEA server market hits a rutFirefox's Market Share Increases, IE's Falls - InformationWeek
Emirates Business 24 7 Firefox's Market Share Increases, IE's Falls InformationWeek, NY - By Antone Gonsalves Mozilla's Firefox has seen steady growth in market share this year, reaching more than 20% as Microsoft's Internet Explorer has fallen ... Windows market share drops under 90 percent, according to Net stats Safari and Mac market share up in November '08 Windows market share dives below 90% for first time -