More and more vets are finding Forex. Interestingly enough, they already hold the key to the basic trading concept. I am a combat vet from the Vietnam War. I was an 11Bravo RTO with B Co., 1st Bn., 7th US Cavalry, 1st Air Cav Div, 65-66.
Let me explain Forex to the vets here. First off, Forex is NOT your enemy, but your opponent. You have a mission of Seek, Engage and Capitulate.
In order to Seek, you have to know the best field in order to Engage. That's where the use of Time Frames come in. Find a TF which heads your opponent in YOUR desired direction. By minimizing Price on the selected chart, you get a "topo" view of your opponent's direction of travel.
Once decided, you Engage. How? Simple. Hit the Order button. Only break contact if your opponent withdraws. Again, use the Close Order button. When your opponent moves as you desire, let him move at his own speed. Ultimately, Capitulation will occur and he'll either cross your TP line or you can cancel the engagement using the Close Order button.
This is my mindset as I trade throughout the day. Soon, you'll notice several other military techniques you've used that work here. Don't be afraid to try them out. In Forex, Style is everything. It's like your Word. It has to be developed.
And, just as we had to conquer fear and terror in combat, you have other emotions to work on now that might stand in your way.
Sometime within a year, you'll get your DEROS date. Then, you can call yourself a trader. Have fun and enjoy the ride. Garry Owen, Sir!
Let me explain Forex to the vets here. First off, Forex is NOT your enemy, but your opponent. You have a mission of Seek, Engage and Capitulate.
In order to Seek, you have to know the best field in order to Engage. That's where the use of Time Frames come in. Find a TF which heads your opponent in YOUR desired direction. By minimizing Price on the selected chart, you get a "topo" view of your opponent's direction of travel.
Once decided, you Engage. How? Simple. Hit the Order button. Only break contact if your opponent withdraws. Again, use the Close Order button. When your opponent moves as you desire, let him move at his own speed. Ultimately, Capitulation will occur and he'll either cross your TP line or you can cancel the engagement using the Close Order button.
This is my mindset as I trade throughout the day. Soon, you'll notice several other military techniques you've used that work here. Don't be afraid to try them out. In Forex, Style is everything. It's like your Word. It has to be developed.
And, just as we had to conquer fear and terror in combat, you have other emotions to work on now that might stand in your way.
Sometime within a year, you'll get your DEROS date. Then, you can call yourself a trader. Have fun and enjoy the ride. Garry Owen, Sir!
