May 6, 2011
- in Uncategorized by schooloftrade
Let your Winners run, Maximize Profits with this technique
– Why is it so hard to let a winner run?
o You don’t have confidence and you take profit too early
§ Don’t know where the profit target is
§ You don’t know how to read tape/speed of tape
§ You don’t know how to read momentum
§ You don’t have an idea of the big picture
§
o The market may not make it possible, too choppy
o The best way to be prepared to maximize your runner:
§ Identify the most important levels first (use a 89range chart)
§ Learn to read the tape, this will tell you when the market will reverse, and when you should take your profit
§ The tape will also tell you when to HOLD the trade
§ With tape, speed, and momentum we can easily identify when the market will reverse and we can manage our runner with ease.
How do you improve your focus:
– Diet, exercise, sleep
– You need to know what to focus ON
– Email me for your custom trade plan and I will tell you exactly what to be focused on.
Automated trading systems:
– Black Box: developed by a programmer and cannot be changed, you turn it on and then turn it off, the ‘code’ is a secret
– Grey Boxes: have OPEN code so that people can make small changes and adapt to a changing market
– Our auto trader is a GREY BOX, not a black box
– HFT: High Frequency Trading System
– Algy’s