I have to discontinue using the name of my popular Law Ranger blog to due copyright issues and got a letter stating that it would confusion with Long Ranger. So, I am moving everything over to this blog I will be bring up issues related to the trading and other things every day. You can still access to the Law Ranger blog called now the Blawg Ranger. It is filled with information about the going law school in Australia and taking the bar exam in the US. I know that I put a lot of work into it and research it a lot of it. You will still get those recipes,adventures in Australia and advice that you have come to rely on. The law school school and law related will be blogged about on The Blawg Ranger blog. But for the everything thing will happen on this blog. There will more coming on this blog. I believe it is sorely needed.
Anyway, there are many analysts in the Forex or currency trading markets, stating that a certain currency pairs are going 500- 1000 points higher in 3-6 months. The currency pairs can move a lot. I am very careful about making such statements because there is that feeling I am sensing when analysts get too overtly optimistic that is the chance to trade the other way. It is my sense of how I do things.
With any kind of financial instrument there is always a risk and there is no such thing as safety. What I discovered that when the analyst talk down things they can be great opportunities to buy it and investigating further. It is good idea investigate and not take soundbites as truth.
Now, there people and broker who want you to trade the EUR/USD or GBP/USD or USD/JPY or AUD/USD. I like a bit more movement on trades which I like the crosses a bit better including the commodity block and the JPY pairs because the volatility. I like to see the big picture. I like to find things are bit less choppy and where there has been a one way trade and try to estimate when things are going to change. Markets move in three directions: up,down and sideways.
You always trade pairs that you feel comfortable with and treat them like a company trading on the NYSE. Always be skeptical of economic reports and find out what makes up a report. Secondly, look the charts and don't allow analyst bold predictions to make bold claims. Remember these analysts are betting and hoping it goes their way.
Years ago on the television news program 20/20, they had a stock broker, chimpanzee blind folding throwing darts at a white board with stock quotes and regular people. The Chimpanzee had done better than the broker and the regular people did better than the broker. This illustrates the point of you have to trust yourself and see the charts before making any decisions.
Always try to see the big picture because it allows you see the opportunity before you. Never have the follow the herd mentality you don't blaze trails to come out ahead. You trust your instincts not the analysts on the squawk box. Trading is like playing with a load firearm with one round in the chamber. It takes one trade to wipe out everything. Some analyst do fail to see the black swan events and didn't want to pay attention when the signs are there. Always expect the unexpected. This how you trade in mind because anything can happen.
These analyst always want your money and are broker than you are. Notice how they use broker in their name. Be smarter and trade smart than them. We are entrepreneurs and know what it take to blaze trails. We are the essence of entrepreneurial capital. Trade wisely and well.
If you like the information that has been presented, bookmark this page and the Texas Trade Report Blog in your favorites and send link to it to everyone you know. Blog about it on Facebook, Twitter it to friends and family. That is the way it unfolds.
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