Right Place at the Right Time & Execution
By Jay Norris
Learning to trade is like building a pyramid. The higher up you make it the less work it becomes as each level gets smaller and lighter. The first level, choosing a method, is the heaviest and hardest task given the amount of screen time it takes to back-test and demo trade different methods and systems to determine which one yields the most desirable results. As you get closer to the top of the pyramid you start to figure out the absolute necessity of having a plan and keeping things simple , and you realize, after a long time and a lot of work, that trading comes down to two things: being in the right place at the right time, and execution. The risks involved are long ingrained. Just as a motorcyclist knows what can befall him if he or some else makes a wrong move at 65 miles an hour, or a pilot knows his fate if he makes a wrong move when landing, the trader knows her risk, which luckily is only money.
To attend a live, hour long webinar on identifying trend shifts given by Jay Norris this Wednesday, 4/28, at 3:30 PM CDT, or to access the archive afterwards click on: Market Direction Defined.
Jay is the author of Mastering the Currency Market, McGraw-Hill, 2009, host of the Daily Forex Report on ForexTV.com and a principal in Trading-U.com
DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that changing political/economic conditions may substantially affect the price/liquidity of a currency. Investors may lose all or more than their original investments.