Today Jason Smith wrote me a brilliant email. He said:
One thing that i am learning and that i think i almost have completely learned is that currency pairs do not have to trade in my direction. It doesn't matter how pretty the setup is. I have been trading for quite a while and one would think that i would understand this by now...but i guess that i haven't. the coming weeks will determine how much i do finally understand this concept.
Some people never learn this. I burned an account, spent thousands of hours, drove myself nuts for 12 months before I came to this realization. Possibly, we all have to pass through a lot of frustration before we admit that what Jason said is true: no currency pair, stock, mutual fund, or futures contract ever HAS to do ANYTHING. The market wants what the market wants, and statistics, technical analysis, fundamentals -- they never control the market.
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