Many traders may agree, using trendlines is like trying to paint a Picasso. We’ve all seen the trading guru’s chart with them drawn in, they seem so clear, so ridiculously crystal clear about what to do next its almost painful. Why then do I and so many others struggle to use them? In the next few paragraphs, I hope to simplify trendlines and shed more light on their use.
Stop orders are a good thing. Understanding that will serve a trader well. They limit trading losses, and that’s great! The problem is…that seems to be the only thing ever said about stop loss orders and that isn’t great! The truth is, stop loss orders can fail and if you’re anything like me you may just have forgotten to plan for that.
So, generally speaking I don’t love any short term trading strategy.. mostly due to the fact I lose more money than I make but given the simplicity and potential power of this new strategy it seems reasonable to share.
In my last post I mentioned placing a pin in the discussion about finding trades after Fib levels were identified. In today’s post were going to pull the pin and continue our conversation about high probability trades.
Two things I love; trading and sports. The similarities between the two cannot be overstated. Each requires focus, skill, practice, and most of all, strategy. We can learn a lot about successful trading just by studying our favorite teams or players. Let’s discuss, in brief.