Kenny Rogers would make a great forex trader
In his timeless song “The Gambler”, Kenny Rogers sings the mantra of all forex traders: “You gotta know when to hold em, know when to fold em, know when to walk away, know when to run.” I am not saying that forex trading is like gambling, though some traders say their trading technique is similar to playing black jack. But all good forex traders know when to hold a good trade, and they know when to cut a losing trade. And, they know when not to trade at all, and just go to the beach! This knowledge comes with experience. But one tool that can help you is to use a trade cheat sheet. A cheat sheet, or trade plan, can help keep you on track and NOT CHASE PRICE. My cheat sheet outlines the daily pivot points, support and resistance, trendlines and overall trend, and daily economic news that may be coming out. Plan your trades and trade your plan. Here is an example of my trade cheat sheet.�
March 31st, 2008 at 2:45 am
Hm… all in all I’m agree with you, but your readership… what are they gonna say about it?