When someone has the same goals as you and they are achieving them consistently, you would do well to “imitate” their strategy because they are proving by their results that the strategy works. Of course, trading is no different. In fact, as a trader, one of the ways to shore up your abilities and skills is to have a role model or mentor. This would be someone that you have identified who is already a proficient trader and solicit their guidance. Another way to describe imitating someone and making their strategy for getting results yours…is modeling.
Modeling is an extremely proficient way to break down or “code” what you see as a role model’s or mentors successful actions. As the saying goes, if someone can do it, anyone can learn it. Modeling is a state of curiosity and selflessness. It is a desire to listen to, watch, respect, and learn from others as well as yourself. Modeling is an interest in process over content. Process or the “how” something is done is arguably more important than content or the “what.” The process is where skill is focused to create the end result. There are countless ways to do anything, but there are ways that are extremely effective and there are time-and-energy wasters that might get you to the same result … eventually. Modeling can take many forms. Some of your most fundamental skills have been acquired through modeling others. Babies and young children are expert modelers. Only when they start learning by more traditional methods do they begin to lose this skill.
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.
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