the book youll understand a strategy is only part of the puzzle; you also need to know when to implement a strategy and when it needs to be adjusted or avoided. Once youre profitable with the 3-minute consolidation, consider taking trades where the consolidation is only two minutes. . Risk disclosure : All views expressed in the eBook are Corys opinion. Since the price stalled at the same area it did on the last pullback, thats enough evidence for me to get in if a valid setup occurs (and it does). Expect to lose on some days each month; there isnt anything you can do about. Trade only those stocks or ETFs and calibrate your strategies to them.
Top 6 Bollinger Bands Trading Strategies
A precise Trading Plan, which tells you how to compile all the information in the book into a plan of attack. This method also requires practice; a lot. Forex trading involves substantial risk of loss, and it is possible to lose more funds than you initially deposited with your broker. Learn the psychology of successful forex trading. For example, if risking.10, your target should be at least.15 away from your entry price. If the initial wave is higher, the following pullback wont always consolidate above the open. In this case, we now view the direction bias as up, and we wait for a pullback (lower) to consolidate above the low of the initial wave. Several chapters focus on reading price action so you see market changes as they occur, and can filter out trades which have a low probability of success.