Weekly Thoughts of a Trading Maverick – June 2, 2013

Great traders are made, not born. Does age have to do with successful trading? Well, experienced traders tend to be older than inexperienced traders.

Analyses of different pairs and crosses would help the trader gain the overall insight into what is really happening in the markets. For example, all JPY pairs tend to be positively correlated, and so, the weakness in the Yen would help all of those pairs to rise. Right now, the EURUSD and the GBPUSD are going up while the USDCHF is coming down. The EURUNZD, EURAUD and EURCAD tend to go in the same direction as well. The list could go on. – May 28

The devaluation of the JPY might have a long-term effect. Gold is a rare and precious metal and as such, it can’t go down forever. I don’t ignore fundamentals, yet my decisions are made from what I see on charts. – May 29

Real trading isn’t gambling – unless you don’t know what you’re doing. Truly, I trade with peace of mind, which inevitably leads to happiness. Only discipline to one’s rules can help one deal effectively with the fluctuations in the markets. The best way I manage emotions is to risk as little as possible. – May 30

You can’t take revenge on what you can’t control. Therefore you can’t take revenge on the markets. Is high-frequency trading not most suitable for robots? – May 31

Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders

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