I Can't be Wrong If I Don't Have an Opinion

"I Can't be Wrong If I dont Have an Opinion" - Igor Toshchakov

The above statement is, above all, a means to avoid unwanted stress and emotions associated with trading. Therefore, trying to predict the trend, the movement, works only to ones self play or for recreational matters. However, it does one no good while planning a strategy or even defining of where, when and how to place a trade. Practical results demonstrate that trying to forsee/anticipate a trend, is as good as eating a fortune cookie: one has no way of knowing when, where or how it will happen. By acknowledging that PRICE has only two ways to move ( either up or down), it makes a lot more sense to follow the market trends instead of trying to anticipate them.

The excerpt below from Mr. Toshchakov's book - "Beat The Odds in Forex Trading"  outlines what I consider to be key ideas to everyone wishing to become a successful trader whichever the market might be.

Hope you enjoy.

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#GBPUSD

Believing cable will keep on dropping, I believe I have spotted a projection of another diamond formation. This on being a continuation one.

Lets see how it lays out.

#USDCHF

I believe I was able to catch #USDCHF bottom before I went to bed last night.

Will post the chart later.

#USDCHF

#USDCHF could provide a nice trendline break setup early this week. Tl clearly visible on the hourly and 30m charts. Also, multiple bullish MACD divergences support the trade.

#GBPUSD and Precision (#diamond/#H&S)

I was once told by, who I personally consider one of the most amazing traders around, that the market is very precise. While I was beginning my journey, I had reason to doubt that. However, things like cables H&S formation observed on the daily and 240 min charts gives me sufficient reason to think other wise.

The market is indeed precise.

Observe how I was able to project the top of this right shoulder/diamond seen on cables daily charts.

Precise entry with a very tight stop loss.

Thank you very much Mr. Igor Toshchakov (L.A. Igrok) for your teachings and insights.

;-)