With all the labour saving devices, computers, mobile phones and the various “time saving” gadgets why is it that most people never have any time or are always in such a rush? In a society which continues to strive for instant, quick, real time, disposable and easy goods and services it comes as a shock to many that I continue to make massive profits from taking a longer term view and a rather simple trend trading approach.
When the Dow Jones Index was first calculated in 1896 it was disseminated once a day at the close.
In 1923 the price was released every hour and in 1963 the price went real time. Today we have a 24 hour price thanks to Globex, Financial Bookmakers and the Indicative Dow quoted in Germany.
Many still think that the switch in 1923 to hourly prices helped to fuel the 1929 crash.
While progress and technology should be embraced in many cases understand that quicker is not always better, microwave food may be quick and easy but does it taste that good?
Daily prices and weekly charts still work best. For my own trading 99% of my trading ideas come to me at the weekend when everything is shut.
A good tip to make money in any financial market is work on the “less is more” principle. Sometimes the best trades are the ones you don’t make.
Right now I am seeing lots of people rushing in to FX or Forex Trading thinking that its “easy money” I assure you its not and most of these robot software systems are nothing
but random generated trades.
Vince Stanzione is a self made multi-millionaire based in Europe. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well as trading he also teaches a small number of students and produced the best selling course on Financial Spread Betting. He is also the author of the New York Times Bestseller The Millionaire Dropout, Fire Your Boss, Do What You Love & Reclaim Your Life published by Wiley to learn more go http://www.winonmarkets.net