The Giant Awakes
Updated
Always buy low sell high. This principle is easier said than practised. Lured by profits and easy money, many retail investors got sucked in to chase the price, hoping to ride the next train to their instant wealth. After hearing who and who became millionaires or multi-millionaires, they can't let this dream ride to go without their participation.
Little do they know that healthy correction or pull back is necessary before the trend can continue. Ask yourself, if and only if the price action does pull back to the 61.8 FIB level and if one buy at current price, how wide is the SL required?
Of course, we could be so wrong that the price continue to charge ahead without resting. And that lies the challenge, most are fearful to miss the train and having missed it in other pairs, they want to make sure they go for the killing this time. They had "waited" enough...................
Be careful, be very careful...........When no strategy is employed and followed with blind faith, all it takes is one time to wipe out your account. When money become easy to make, greed slips in and traders are likely to increase their position size to make even more, even faster. Do not fall for this trap. You have been warned.
Little do they know that healthy correction or pull back is necessary before the trend can continue. Ask yourself, if and only if the price action does pull back to the 61.8 FIB level and if one buy at current price, how wide is the SL required?
Of course, we could be so wrong that the price continue to charge ahead without resting. And that lies the challenge, most are fearful to miss the train and having missed it in other pairs, they want to make sure they go for the killing this time. They had "waited" enough...................
Be careful, be very careful...........When no strategy is employed and followed with blind faith, all it takes is one time to wipe out your account. When money become easy to make, greed slips in and traders are likely to increase their position size to make even more, even faster. Do not fall for this trap. You have been warned.
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