Don't be just another dart throwing monkey

There is a very good article in the education section of fxstreet that is worth reading . it is " How to set profit targets and control losses ". Within it it points out things like trading is " a series of compromises ", and demonstrates how open ended targets with an understanding of maximum adverse excursion is more profitable than targets.  It highlights the importance of consistancy , and eludes to this fact by the very nature of the content.

It neglects to address the importance of the variable " opportunity", as it relates to expectancy, as well it doesn't articulate the importance of distribution effectively.  Perhaps these items are to be covered in another article that builds on this one.

No doubt in my mind the core messages in this article are important building blocks to becoming a real technical trader as opposed to just another dart throwing monkey. 

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Comment by Daologic on February 2, 2014 at 7:36am

Trading is no different than any other industry. An industry manufacturer have succes trough standardization of manufacturing processes, from recieving the input troughout distributing the output. Standardization in trading means you have a set of rules. Some times you must improve this rules in order to get better results. Like in any manufacturing factory, the quality of end products depends of the quality of imputs and the quality of information processing or in other words the quality of manufacturing per se. The quality of trading is also dependable of the quality of inputs which are information like fundamental data, technical data (charting), than comes the quality of processing (manufacturing) this information and if this information (input) are within the standardization rules, the trader can act, can manufacture-trade. This is just a comparison between manufacturing industry and trading. In fact trading is simpler, as I always say, but not easy. It is not easy because it is not easy to process (manufacture) the inputs. In order for trading to become easy a trader have only one tool, experience.

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