Friday, 15 May 2009
What to do when the pattern is unclear...
Hi Everybody
Most of yesterday was a hard day especially as the picture was not clear as the US e-minis dipped down though DP support and then drifted higher. So this does raise a good question – what do you do if the pattern is unclear ? Well, as I say in the Trading Course Part 1, the pattern on most markets will be unclear about 50% of the time, so this is something all professional traders will need to handle on a regular basis.
Common sense should step in here and tell you that when the pattern is unclear, you should do nothing. It is always best to only works with the clearest patterns. This is something I teach and mention regularly in my training webinars as well as outline in the Trading Course
Again, this is where we are different, here at MTPredictor, in that we deal with the realities of trading, and show you how to handle situations like this which will come up regularly.
Thanks
Steve
Most of yesterday was a hard day especially as the picture was not clear as the US e-minis dipped down though DP support and then drifted higher. So this does raise a good question – what do you do if the pattern is unclear ? Well, as I say in the Trading Course Part 1, the pattern on most markets will be unclear about 50% of the time, so this is something all professional traders will need to handle on a regular basis.
Common sense should step in here and tell you that when the pattern is unclear, you should do nothing. It is always best to only works with the clearest patterns. This is something I teach and mention regularly in my training webinars as well as outline in the Trading Course
Again, this is where we are different, here at MTPredictor, in that we deal with the realities of trading, and show you how to handle situations like this which will come up regularly.
Thanks
Steve