coaching
Talk In The Street..
Lets start off with some of the quotes of the Weekend from our friendly Finance Minsters around the World.
“We are going to defend the euro,” Spanish Economy Minister Elena Salgado told reporters as she arrived to chair the meeting yesterday. “We think we have a duty for more stability for our currency. We will do whatever is necessary.”
“In the night, when the markets are opening, we cannot afford a disappointment,” said Finance Minister Anders Borg of Sweden, one of 11 EU nations not in the euro. “We now see herd behavior in the markets that are really pack behavior, wolfpack behavior.”
The talk in the Street is that the Euro was way over sold and it needed a retracement back up to the 1.30 level. (that’s a 50% retrace from the last break down.) The 1.30-1.32 level would be a good area to start shorting again.
No one really knows how the EU is going to get out of this quagmire, the details are still sketchy. One thing that is known(and a major mistake I think)…
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7 Things To Keep In Mind Trading
- There is only one side to the market;….not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of Currency market speculation.
- People who look for easy money trading invariable pay for the privilege of proving conclusively that it cannot be found on this earth. There is no easy money, only sound trading techniques.
- But I can tell you after the market began to go my way I felt for the first time in my life that I had allies – the strongest and truest in the world; underlying technical conditions.
To see the rest of these Great Truisms Sign Up and get even more cool stuff!!
Hey Professor “Don’t Fight The Tape!”
In this short article I am going to debunk the belief that has been long-standing. The more “institutional education” you have, the better a trader you shall be. This idea has been ingrained in us since we were children. We were always told to look up to doctor his lawyers and engineers etc. after all they are sharp intellectual people. They have years of schooling behind them, therein lies the problem of us normal guys and gals setting in limiting belief upon ourselves. That we need to be intellectually educated, we need to listen to the talking heads on the television Dr. Farnsworth of IKE Academy (I Know Everything Academy) says “the euro is going to 2.60 due to the imbalance of sugar, grain, and fish in Lichtenstein.” I’m here to tell you that’s not the case….. (To See Full Article Login Members Area)
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