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Trading in a place called ForexLand

Trading in a place called ForexLand

The Rabbit hole of thinking and raising Trading awareness with Market savvy can be explained away in a wide range of intricate FX scenarios. Luckily though and just a short hop away are some interesting Forex facts along with a short punchy story to share. Which should not go beyond the scope of reasonable thinking for some FX folk. After all, other folk can and will make life and Foreign Exchange trading as technical and or as complicated as they like.

If you consider that trading in the most simplest of terms is the art of Buying and Selling. Then its not impossible to throw some absolute clarity on and shed light over what made the price rise or what made the price actually fall.

Again, and only in the simplest of terms, lend me your eyes and ears and let us uncover what is hidden in the pitch black darkness deep inside the Rabbit Hole; disguised in the rumour and lie, shared in news and data. Standby, lets reveal the mystery right now: The price went up because there were more buyers than sellers! and the price went down because there were more sellers than buyers!

The art of successful buying and selling or Trading has to be a learnt action and is not at all instinctive. Sadly, this is mainly due to the publicity of crowd noise.

Crowd noise comes about from 95% of all traders and experts who are actually losing, are incorrect or totally lost within the financial markets. Their noise ripples like a stone cast down on calm waters and travels through the whispering mouth and ears of space and time, across the internet, through advertising, promotions, books, word of mouth, as well as trading Forums and Forex Educational courses sent from Quack Leaders and the like. However, the FX losers are not necessarily all in the markets in the same time frame.

All successful Traders, the 5 percenters, know they have to go through their very own learning curve of which there are no short cuts. Fortunately, the good news is the curve leads to eventually attaining a natural cycle of being a consistently successful Trader.

Consistently successful Forex Trading is finding the profitable way forwards with a rhythm, using a time proven strategy and trading style which is never varied, flying in an identically pattern. Almost as if following the exact same arc and line at each junction or doorway. This must always be landed identically at virtually the exact same spot. Without this approach it would be impossible for anybody to navigate their capital in the markets, ending in funds being rolled like a dice with such a consistent navigational imperfection.

So, the following navigation can also be explained in the simplest of terms, referencing it as "A Place called ForexLand".

Imagine for a moment, a place called ForexLand. Where a trader has to hop from one place to another place by hitching a ride on a currency pair. The currency pair is the vehicle and so the trader jumps in and hitches a ride, for example, hoping to go South. If the vehicle is already headed South then the trader is going the right way. However, vehicles in Forex Land never travel in a straight line and rarely in one direction. In actual fact, all vehicles drive around Forex Land in a zig zag formation. If the vehicle stops or goes no where, the trader can simply get off. If the vehicle goes in the wrong direction altogether, then again the trader can get off and this time wait for another vehicle going in the correct direction. The correct direction is the way the trader wanted to travel in and was previously mapped out on their chart. This correct direction is also derived from the art of buying and selling which is further explained in the Greater Fool Theory in Trading Forex. That's all for now and hope it helps. 

Happy New Year Forex Traders and Fellow Forexmospherians and Wishing you all another prosperous Trading Year too.

Best Regards,

Sir Gissachance (PPND)

Sir Gissachance (PPND)
Forex Trader and Senior Technical Analyst
Currencies USD, EUR, GBP, JPY, AUD, CAD, NZD, HKD, CHF, All.
Previous contributor and lead Trader: Secret Forex Society (SFS), IRC Forex, FXStreet, Forexmosgate, Forexmospherians.com
Market Alerts - Forex Trading and the Wisdom of the Crowd, Forexmospherian Currency Kraken.
Youtube Trading Videos.
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Comments

  • Nice story Sir G, you have some talent in writing those short stories !

    Happy New Year to everyone all the best 

  • Thanks for saying so Viktor and Happy New Year to All.  

  • Brilliant Forex post Sir Gissachance and totally agree with Viktor this is a remarkable talent and thanks for taking the time to share. Happy New Year.

    Holmes

  • Excellent FX post Sir Gissachance you have an uncanny knack of writing brilliant trading tips and ideas, True awesomeness in motion

  • Thank You for taking the time to write this wonderful blog.


    In the next chapter it would be nice to sit into the vehicle again, pay for the ticket and take a ride throughout the wonderland in more details. Changing from one vehicle line to another With some tips on how to disembark

  • Thanks for your complements Viktor, Holmes, Forexmospherian, Daniel Stasziek and you are welcome. For now, hop on this Forex link and hyperspace back through the Forexmos S.T.A.R.'s to see more

    Is Trading written in the ForeXmos S.T.A.R.'s ?
    Is Trading Written in the ForeXmos S.T.A.R.'s ? Originally Posted 5th March 2013 at 1130 Hrs and one of many Forexmospherian posts banned by our old…
This reply was deleted.

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"Keep a Record of the Business or Currency Pair Traded. Reasons why the Trade was taken. When was the Exit. How and why the Trade turned out the way it did"

"It's my pleasure to be part of this forum, which is always different than other places & with a friendly environment. Glad to be in this team"

"Yes, the truth requires neither our belief nor understanding. However to harness truth and apply it for our benefit we must at a minimum allow that it is possible".

"We all know we will never be 100% Accurate with 100% win rate over 100's or 1000's of trades - but as long as your winning pips and money - add up to a lot more than your losing pips and money - then "Bingo" you are successful winning FX trader"

"I figured this was a legitimate break, so I went on the hunt for evidence, so here in succession is the list of clues I used to make my decision:

Rejection of market and weekly pivot at ema confluence.

Complete and broken head and shoulders on 1hr time frame.

Broadening formation on daily with test and rejection of 200 day ma

Bull hinge on daily and Renko stochastic.

Positive momentum on 5min, 1hr, 4hr and daily chart"

"Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful" - George E. P. Box

"Sometimes You Win,

Sometimes you Learn".

"Forex Market analysis relies on two types of analysis much like Stock Markets:

Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.

Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more."

"Short rapid bursts and quick glimpses of an entry, trigger activated, trail in place and exit strategy and plan already set. Within a blink of an eye, instinctively the buy/sell button is pushed. The hammer falls and clanks decisively, echoing, sparking, like steel upon steel and the trade is executed. A Traders heart beats on with perfect set up, closely aligned with strict parameters, ready to continue the attack or recoil on a wire. Wrap the profit and then stand down, ready for the next hunt"

"When we are talking about sentiment it is very hard to say that this sentiment will prevail another 6, 9, 13 hours. Sentiment is not a constant line. Main trend is bearish, tech picture on daily is bearish, even intraday neutral. Nobody restrict to play long eur short usd position with the target at 1.12 or even 1.1361, this is every traders individual choice as always"