The Woodchuck and the Possum

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Old Sep 28, 2006, 3:00pm   #1
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The Woodchuck and the Possum

We've just published a new T2W article called "The Woodchuck and the Possum" by Rob Booker.

Quick Summary: A cautionary tale of why most people lose money in the forex market.

PS. Don't forget to rate the article after you've read it and share your comments on this thread.
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Old Sep 28, 2006, 3:00pm   #2
 
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“Do what you love and the money will follow.” ?
I thought it was, "Follow the money and you will love what you do.”

Quite a well written article and agree with the general content.
Not sure about all the references to fauna and have no idea what a woodchuck is.
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Old Sep 28, 2006, 3:04pm   #3
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Last edited by jimbo57; Oct 29, 2006 at 7:38pm.
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Old Sep 28, 2006, 3:08pm   #4
 
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Here they are for those unfamiliar with these non-native species.
The red handed squirrel is the one that makes all the money.

The badger and the rabbit would have been better for the UK.
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woodchuck.jpeg   possum.jpg  
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Old Sep 28, 2006, 8:47pm   #5
 
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Is there a correlation between tool used and instrument traded ?

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This is a forum thread for discussing the Knowledge Lab Article, "The Woodchuck and the Possum".
OK - the thing that strikes me about this article and other threads devoted to forex is summed up in the sentence from the article:

Lots of traders use moving averages – when the moving averages cross each other, they give off buy/sell signals. The might read candlestick patterns, Elliot Waves, or Fibonacci Arcs.

With most other instruments being traded MAs are perhaps considered too simplistic - "old hat". To what extent do they form the basis for the trading strategies for other instruments and to what extent do they form the basis for trading stategies for forex ? If there is any significant difference - why is this ?

The same questions might apply to other tools ? Are fibs, EWs, patterns or any other tools you care to name best suited to one type of instrument rather than another and why ?

PS - Mods - if this is too much off subject feel free to transfer this to another thread

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Thanks! The following members like this post: TheBramble
Old Sep 29, 2006, 9:24pm   #6
 
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In other words Possums......KILL YOUR LOSSES OR GET KILLED!
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Old Oct 1, 2006, 4:03am   #7
 
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I am offended by the story of the jerk killing animals, so I didn't bother reading the rest of the article.
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Old Oct 3, 2006, 10:18am   #8
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I do not trade Forex but found the article interesting. The priciples apply to all manner of trading whether it be Indices, Shares, Commodities etc.

Regards

bracke
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