Thursday, May 8, 2008

Expect the unexpected!














Expect the unexpected - a mindset I used during trading. You'll develop it too after some hard knocks!

Well, it came from a different quarter today. I lunched out with this classmate whenever passing through Singapore. Other than the catch up chat, our common conversation topic centers usually on psychology of trading. He trades in S&P 500 index and options; who also told me of perils in forex before.

It was a surprise when he popped a line, ".. something I like about forex...".
Huh, what? Did I hear him correctly?

As it turn out he attended a talk on forex recently. So what does he like about it?
Prospect of automated trading!

Why?
It takes the emotional element away in trading. If one can implement his successful strategy to trade automatically, it is appealing.

Is it on Meta-4 trader platform?
Yes, he came across it too.

In the course of conversations, I noted his attitude towards forex has shifted to an open one now. I stayed ambivalent without encouraging him but gave some pointers to a demo platform & web link to explore articles on automated trading. How it will get on with him? Time will tell.

This line "expect the unexpected' is also a good axiom in life!

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