The key is truly believing in the probability. I never think I know what it will do. I acknowledge what it is more likely to do and trade it that way. I always protect myself from the unknown forces afoot in the market by deciding on where my buy or short decision will be proven wrong though. Many times a perfect "A trade" set up will fail just as easily as an ugly dog set up.
Thursday, May 07, 2009
Momentum and high probability charts
The following two posts demostrate why the combination of momentum and high probability charts are a preferred way to trade. Knowing from past experience that charts like this have a better chance of a profitable trade than something that is jammed up or choppy, it's easy just to follow your trading plan. Make an entry , set a stop and let the market momentum take over until it exhausts itself.
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