Classic Chart Patterns to Trade |
|
Author:
| Abraham, Andrew |
ISBN: | 978-1-4923-8962-0 |
Publication Date: | Sep 2013 |
Publisher: | CreateSpace Independent Publishing Platform
|
Book Format: | Paperback |
List Price: | USD $7.99 |
Book Description:
|
Many times traders will say they are bullish or bearish. I have learned it does not mean anything. One must listen to the markets. Opinions do not mean anything. My opinion, your opinion as well as Jim Rogers's opinion does not matter. No one knows the future. I would tend to believe that you have tried many approaches such as cycles... seasonals... point and figure charts... fundamentals... and still didn't know what you were doing wrong and keep losing money. My goal for you in this...
More DescriptionMany times traders will say they are bullish or bearish. I have learned it does not mean anything. One must listen to the markets. Opinions do not mean anything. My opinion, your opinion as well as Jim Rogers's opinion does not matter. No one knows the future. I would tend to believe that you have tried many approaches such as cycles... seasonals... point and figure charts... fundamentals... and still didn't know what you were doing wrong and keep losing money. My goal for you in this short powerful ebook is to put you on the right direction of using simple robust patterns to trade for a living. It is not easy and it is not retirement in a box. You will have countless losses and long periods you do not make money. However if you keep your losses small, trade with a complete trading plan with money management & risk management you are on the path of potential success. The basis of successful trading is developing your own trading plan which matches your personality. You need to know exactly your trading plan. How do you get in, how do you get out with a loss or profit and how many contracts or shares to trade? Then obviously you go through periods when the market spanks you and you're wrong four or five times in a row. And you start questioning whether you need to change something. Once you start changing you are on the slippery slope of failure. You need to realize it is part of the process of trading. The market will always throw you curve balls. Once you think you have begun to figure things out you are challenged by the markets. You need to realize it is simply part of the marathon of trading. You need to accept the inevitable losses and even losses in a row. You need to not be hindered by the losses. You must accept them.You are not going to be right 80% of the time, or even 50% of the time. If you are right about 35% of the time and you follow a complete and robust trading plan you put yourself in a position to profit. Most of the new traders who start trading today, the vast majority have no clue of the learning curve. Actually it is not a curve, it is Mount Everest. And you've got to be willing to really, really go through a lot of learning - and you learn by mistakes. You learn by getting beaten up by the markets and then getting up again. You don't come in and take a weekend course and think you have figured it out. You have grown as a trader when you realize, "Oh, I've had 7 trades in a row that did not work and now I'm getting another signal I am taking it. This is progress. The reason I am harping on this is that the techniques I am going to share with you are not the Holy Grail or even close to perfect. Perfect does not exist in the markets. All the nonsense of high win rates and trading robots promising riches are complete nonsense. If it was that easy some huge hedge fund or bank would find some magic system and end up with more than Gd. You will eventually encounter a big drawdown, and your first temptation is to change something. Actually the better response is not that something has to be changed, although that may also be the issue, this is a juncture to learn. Trading is always about learning. My goal is to share my 19 years of trading. I will honestly say I am still learning. Trading is an ongoing education. But like all other forms of education, tuition has to be paid. When you make money that is the easy part. When you start losing money, that's the tuition you pay to learn. The markets determine the tuition; you don't get to determine it.