REAL TIME

Why the emphasis on "real time"? It is absolutely crucial that one considers the changes that occurred between the pre-information age (computer and connectivity) and the furnace of the information age – trading in the global financial markets. Except for the military no industry contributed more than the international financial markets to meeting the need for real time information delivered through different mediums. The fact that we have this technology must not be underestimated. If you don't understand this, the affect of real time events, and even the real affect of fictitious events on the currency markets, then you are once again bird watching in lion country. We will examine, in some detail, what real time analysis means, but for now you must know that my approach to currency trading is rooted in the here and now, the reality of what is happening around me. This may seem obvious but it is not, and it is the key to trading success in the currency markets. A lot of people think they know how to listen and what to listen for. They make a few good "calls" and their confidence in the system they are developing is high. Then the market goes against them for some time and they feel let down, upset, on the wrong end. They haven't been listening. They've been eavesdropping. Being able to ‘listen', to really listen to what the market, the here and now, the reality, is telling you, is a skill you must develop. The currency market is like a symphony orchestra. There are several instruments all contributing to the creation of a harmonious whole, in this case, the price. The price is precisely what it is, no more, no less, but its very impersonality belies the fact that a multitude of individual contributing factors have come together, and are constantly coming together, in an ongoing real time process of ever changing events. To understand how an entire orchestra produces its sound you need to know what role the individual instruments play, the violin, cello, kettledrums, the flute. The more proficient you get at ‘listening' to the market, the better you will become at identifying discordant sounds and like the conductor asking the violinists to pick up the tempo or indicating to the kettle drums to be a touch more retiring, you will act depending on what you hear. Unlike some trading systems, my system begins before any buy or sell buttons are pushed. It includes for example my goals, because these have a direct bearing on when I push the buy or sell buttons. Unsuccessful trading can result from factors that have nothing to do with the market. Trading is not simply about analysing price charts. It is also about realistic goals, proper business plans, the sober implementation of strategies and then developing and refining a methodology.