Thought of the day – Wednesday 20th October 2010

“Amateur traders turn into professional traders once they stop looking for the ‘next great technical indicator’ and start controlling risk on each trade.’

John Carter – Mastering The Trade

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About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

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4 Comments on “Thought of the day – Wednesday 20th October 2010”

  1. Subhash Says:

    totally agree. it is not about the indicator.. it is all about understanding price action and that takes experience

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    Reply

    • FXTraderPaul Says:

      Yep wise words indeed. It takes time to understand price action and most people don’t want to make the investment they just want instant answers hence the need for another great all-seeing & all-doing technical indicator.

      Thanks for the post!

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      Reply

  2. fxtraderchat Says:

    Very true. Unfortunately, I have found there are many many people professing risk control, but few providing practical ways of doing so (and still actually clicking the mouse button once in a while.)

    Thanks for the post!

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    Reply

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