When you trade FX, don't blame the market (Mr. Market), he is always right! You should blame your judgement and other aspects. You as a trader will never can beat the market all the time, the moment you think you can, you are doom! I repeat, Mr. Market is always right.
As my account size is growing bigger, I tend to blend fundamental and technical analysis(TA) in my trading which can accommodate Mr. Market. However, sometimes, it is difficult to match the 2 criteria and it need to match with the psychological of Mr. Market. Intuition always conflict with TA and make you stop the execution. Well, to conquer the emotion, I will hedge my position which is limiting me for the huge profit. Anyway, to manage a growing accounts, I will separate it into few categories to fulfill the Mr. Market movement. I know he is always right.
As mentioned earlier in my previous articles, there are few types of traders in the market which initially will 'flight' each other to form 'Mr. Market' which is always right. To fit your own character into Mr. Market's mind isn't an easy task. The conflict of mindset will make you feel like machine.(The sad part is; we are not machine.)
It is 355am (+800 GMT, Monday. 03/22/10), I am setting a game plan which can fit Mr. Market movement for the coming week. I will be heading to the 'Modern & Forbidden City' this coming Wednesday and back to KL on 31 March 2010. The great thing about travelling is you are away from the screen (noises) of the market which will distract your game plan. I will be monitor market only twice a day during my vacation.
