USD against SGD Yesterday broke the 1.570 support after weeks of consolidation. It shown a signal USD likely begin another downtrend against SGD . Short the USD against SGD at this point should be a good trade with plan to cut loss at 1.575.
Don’t anticipate! Wait until the market gives you the clues, the signals, the hints, before you move. Move only after you have confirmation.Anticipation is the killer. It is the brother to greed and hope. Don’t make decisions based on anticipation. The market always gives you time. If you
wait for the clues, there will be plenty of time to execute your moves.
Emotional control is the most essential factor in playing the market.Never lose control of your emotions when the market moves against you.And never become elated with your successes to such a degree that you think the market is an easy way to make money. Never fight the tape—the tape is the truth . . . seek harmony with the tape.
Do not spend a lot of time trying to figure out why the price of a particular market moves. Rather, examine the facts themselves. The answer lies in what the tape says, not trying to figure out why, and most importantly—never argue with the tape.
You can’t tell if your judgment is right until you put your money on the line. If you don’t put your money on the table you can never test your judgment, because you can never test your emotions. And I believe it is emotion, not reason that dictates the direction of the stock market, just like most important things in life: love, marriage, children, war, sex, crime,passion, religion. It is rarely reason that drives people.
I am shorting USD against SGD, how about you ?
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