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BHP Billiton Limited Message Board

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  • elmojitogatico elmojitogatico Jan 11, 2010 2:02 PM Flag

    The Lion and the Mouse

    “New forex traders often fail to trade with a tested strategy or trading plan. Instead, they make trades when psychology dictates they should. If a trader feels the market has to move in one direction or the other, there is a 50% chance he or she will be correct. When the rookie trader enters a position, often he or she is entering right at a time when their emotions are waning; experienced traders are aware of these junior tendencies and step in, taking the trade the other way. This befuddles new traders and leaves them feeling that the market - or their brokers - are out to get them and take their individual profits. Most of the time this is not the case, it is simply a failure by the trader to understand market dynamics.”

    What? It is simply a failure by the trader to understand market dynamics and yet the experienced traders aware of these junior tendencies (fish) step in and take the trade the other way? What is the market dynamics the jr. trader or the predator trader? How does he know what the “fish” is doing?”

    Go figure, Caveat venditor

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    • # If you are satisfied with your research on a particular broker, open a mini account or an account with a small amount of capital. Trade it for a month or more and then attempt a withdrawal. If everything has gone well, it should be relatively safe to deposit more funds. If you have problems, attempt to discuss them with the broker. If that fails, move on and post a detailed account of your experience online so others can learn from your experience.

      good advice

      & yes Caveat venditor not Caveat emptor was intended ;-)

      • 1 Reply to elmojitogatico
      • last thought

        Caveat venditor is Latin for "let the seller beware". It is a counter to caveat emptor and suggests that sellers can also be deceived in a market transaction. This forces the seller to take responsibility for the product and discourages sellers from selling products of unreasonable quality.

        like the $, CDS , carry trades etc. lol

        From Wikipedia, the free encyclopedia

        lol = laughing out loud or absolute zero depending on your point of view

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