DAY TRADING! Contraction & Expansion Strategy! BUY GOLD
Okay I've got another one for you but instead of talking about the analysis I wanna talk about money management, something that a lot of traders don't pay attention to. Money is really important in trading because it can make or break you as a trader.
If you put 2 newbie traders in front of a screen and provide them with a very profitable strategy and you these 2 traders take the opposite side of a trade, do you know that there is a high chance that both of them will end up losing money? Let that sink in for minute.....
However, on the other hand, if you take 2 pros and have them take the opposite direction of each other, chances are they will frequently end up making money! Very interesting isn't it?
So everything comes down to money management! I was having a similar discussion with my traders about this today that's why I've decided to say something about it on this analysis.
You guys are already used to my strategy anyway so I don't really need much explanation but feel free to check out the last post I did on gold.
As always, any opposing comment, views, arguments or feedbacks are welcomed.
If you put 2 newbie traders in front of a screen and provide them with a very profitable strategy and you these 2 traders take the opposite side of a trade, do you know that there is a high chance that both of them will end up losing money? Let that sink in for minute.....
However, on the other hand, if you take 2 pros and have them take the opposite direction of each other, chances are they will frequently end up making money! Very interesting isn't it?
So everything comes down to money management! I was having a similar discussion with my traders about this today that's why I've decided to say something about it on this analysis.
You guys are already used to my strategy anyway so I don't really need much explanation but feel free to check out the last post I did on gold.
As always, any opposing comment, views, arguments or feedbacks are welcomed.
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