Analyst at FXWWThu, Oct 25 2012 03:00 GMT
Duration: 0 h, 45 min
Moderator: Ivan Delgado
Trading is a skill. It’s not about picking winners, but skilfully building position sizes so as to keep risk at a minimum and maximise profits.
The important skills to master are finding the correct entry level, judging the correct size of entry position, managing positional risk with multiple trade-units, booking interim profits and being prepared to take sizeable risk when the market is doing as you expect.
Why don’t the best analysts and strategists make fortunes trading? Because they either don’t know how to trade, or they don’t have the right psychological make-up to become a successful trader! A good analyst might get 7/10 right yet lose money trading whilst a great trader might only get 1/10 right, yet will make a fortune.