defined trading plan that describes in concrete terms what you will do in any given market scenario. Did we find any unexpected drawbacks? Define your entry strategy. Our analysis is market-driven;.e. Our research is grounded in the precision and mystery of Phi the Golden Ratio; with the tactical application being. Is it really as good as it sounds? Also, make sure you have a thorough understanding. You should never make trading decisions while you have a trade open, as most of the time this will back-fire on you. Chapter III: Pin-ball strategy 9, you must have noticed that the markets tend to range more than they trend.
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In fact, the markets range about 70 of the time. While most traders were buying because they believed that the uptrend has finally recovered, we sold with confidence using a tight Stop Loss. Reviews in, aLL, issues, extract from the review of Writers Bureau. Market psychology 3, once a trader becomes familiar with candlestick charting, he can get a quick and highly visual signal because of the story candlesticks tell. Having a written out pre-defined trading plan means you are making an effort to hold yourself accountable to something, this is necessary to forex trading success because there is no one to be accountable to as a trader. Chapter IV: Trend following strategy 16, as opposed to the Pin-ball strategy, we don't look for quick and small profits here.