Hi all! I'm new to this message board and Forex as well. I've been studying the markets for a few years now and I've often heard the advice that it is very important "know the probabilities" before making a trade. To be honest, I don't really know what Mark Douglas and the others are taking about, but I would like to learn. Are they speaking of the chances of any given trade working out? If so, how does one determine this in advance of a trade? It would seem almost impossible as the market has yet to complete the movements in question. I've been looking around for information on this subject but cannot really find any instructions. If there is someone here that understands this topic, would please offer an explanation? Thank you.
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.