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Hello omega-list,
I think one of the primary problems with any trader is not as much
entries as it is the risk taken after the entry. Of course others
would argue that a good entry helps define what that risk should be.
How many have gotten in a trade with pre defined stop loss amount in
mind and seen it just take them out of the market. Then see the market
continue in the direction that you wish it had of done in the first
place?
More than likely the very price direction that your eye saw that
persuaded your brain to take action about was in fact correct. However
you timing was off and the fear greed demons come crawling out to
force you to enter the trade without fully examining all the
possibilities of what was about to happen to you.
In fact try this next time - if your convinced that the market is
going a certain direction then place a trendline where you would buy
it. Then using the SP as an example place a trendline 3 points below
your entry as a stop and reverse point. From there draw another trend
line 3 points below that as a profit target.
Now lets see which trade makes the most money over time! Yours that
your eye has gotten you into - or - the fail safe reversal provided
and described above. Affectionally called Mark's SOL Reversal system.
Mark Brown
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.o©º°¨¨°º©[ WWW.MARKBROWN.COM ]©º°¨¨°º©o.
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