Are you a trader yet?
As a trader you will probably fall into two main categories,
traders who like to trade the breakout or traders who like to join the trend when it once established.
There are also congestion traders, reversal type traders and mechanical signal traders but for the vast majority of traders you are going to fall into one of the two categories.
Trend Trader
If you are a trend trader, you like to define a trend and then find a way in.
This may be with the aid of Fibonacci retracement levels, moving averages, or one of the other many indicators available today.
Your goal is to enter the trend as early as possible with the least amount of risk.
Breakout Trader
Breakout traders like to enter the market on the breakout of a previously identified range.
This may be support/resistance areas, rectangles, triangles or one of the many other chart patterns. The secret to this type of trading is to determine a valid break.
Who do you like to be?
Learning to be the top 10% of traders, you have to know the art of trading.
Recognize the trading opportunity.
Follow your trading plan.
Act on it and be a consistent winner.
Next issue:
Understand why technical formations work.
If you have any other questions, please contact
support@online-trading-centre.com
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