Last night during one of our casual meeting, I was asked by one of the amateur Forex Player where would the Euro heading to? My answer to him.." Goldman Sachs (GS) said it will reach 1.35 but they have revised it twice the projection since early this year. If I tell you it will reach 1.35 but Mr. Market turn other way round, you will curse me. if I am right, you may not remember me."
Professional traders will never ever ask this kind of questions. Regardless where the market move, we look for right time to strike. One of my team mate always related trading forex to sports. I agree his point of views." Lin Dan is a world class badminton player, he know when is the time to smash, drop short, long ball etc in the tournament, but sometimes he make mistakes too." This apply to all the sportsmen. Trading Forex apply the same concept, even you are the best trader, once a while market will not syn with your mind.
Many amateur players think they learn some technical analysis skills and try to play professionally. My advise to them." If you think trading is so easy, anyone can become millionaires by reading this type of books. Ironically, most legendary traders like Mr. Soros and Jim Rogers don't even know how to read chart but they can 'create' the future chart pattern. I hope all the amateur players get my points here.
