Yes Forex is like F1 racing track. Each day there is a new unknown track with some clues on road a head but driver must be on alert all time. When left turn is ahead,
the car position must be adjusted for the best corner-cuts and on right time the steering to be used. It is the combination of various factors - planning, tactics, alertness, reactions and overall the competitive edge.
If you enter into F1 race track with a F1 car will you drive at 30mph throughout the track; reason you don't know the turns are for left or right. My answer is if you're into hedging in FX then you are doing exactly that. You can complete the race but it is of no use.
Modern drivers has very sophisticated steering - same as FX indicators. Don't go for autopilots or robotic programs as you cannot win the race by that.
Your FX view is same as F1 car cockpit view. Once you get into cockpit view; look ahead and drive. Keep all strategies and plans in your head; react to the situations.
You should know where market stand - is it a bullish or bearish market. One should use indicators to identify the same.
When turns are ahead you should decide to cut-in from inside or outside. This is same as when market is going to reverse do you want take advantage of challenge or go with the flow. Will you turn the steering at right time and right direction. If you skid how will you handle it.
Sometime you run into grass; don't look for help. Once race is on there are no restarts. Don't blame on other drivers, experts. Don't be a looser; don't ignore all advices and don't follow everything in one advice - remember the day you think somebody is FX Oracle then he/she will be among top 10 richest person in the world!!!
Hope this helps my blog viewers..
No comments:
Post a Comment