A acre back, inward my "passing the plate" post, I requested trading ideas from readers. So far, I've passed along ideas regarding overbought together with oversold markets together with likewise shared around of my ain marketplace indicators, including intraday novel highs/lows; volume distributions to position trending markets; short-term transition patterns; together with non-confirmations inward NYSE TICK.
This calendar week I volition endure featuring reader submissions. Here is a transportation service from Lionel, who trades out of Malaysia. He industrial plant amount fourth dimension together with therefore trades on a swing fourth dimension frame, rather than intraday. His rules follow a tendency next logic, using pullbacks to teach inward on the long side. He gauges risk/reward for each merchandise together with trades alongside defined net targets. In his post, he illustrates a merchandise inward WMB that followed his rules.
From a psychological advantage point, Lionel is accomplishing several things:
1) He has establish a trading means to gibe his lifestyle;
2) He has distilled his trading to explicit rules, which helps him keep discipline;
3) He has focused on exits equally good equally entries, alongside an midpoint toward minimizing losers together with maximizing winners.
As traders lengthen their fourth dimension frame, they convey fourth dimension to question markets together with stocks together with apply rules to their trading. For some, this makes greatest purpose of their strengths, acre avoiding impulsive trades without an edge. Thanks to Lionel for passing his ideas along.
.
No comments:
Post a Comment