Use multiple time frames

mrleepsmith

Newbie
Messages
6
Likes
0
High probability Trading by Marcel Link is the bible because it covers everything including - how to keep a Journals, how to write a plans, technicals - flags, pennants, trendlines etc but the beauty of it is your trend awareness will improve and distinguising , system writing...

Always make sure you see the move on multiple time frames and adjust your strategy to the market, oscilators don't work in trending markets and should only be used in choppy markets. Use the ADX to spot a trend <20 choppy, >30 GOOD Trend. Don't use the media as a basis for a move but rather the discerning trader will learn to FADE the news, you will never be the first person to hear any particular news story so you can safely assume the move is already priced in, you can of course look at the history of the market in question to see if there was any untoward action therefore you should anticipate the next move, as in chess any safely assume that the insiders will then exit causing a reversal. Eat my shorts.
 
Top