It should be the opposite of what were unreliable … - Know exactly what kind of market behavior or condition to wait for before initiating a trade. - All levels involved in a trade should be existing or calculated. - Entry and exits should be ...

Price never stops swinging up and down alternately. Learn to categorize each swing as impulse or corrective wave of the ongoing trend ... image

Here’s a list of trading unreliabilities: - The precondition for system initiation is highly subjective. - Some or all of the levels involved in the trade are predictive in nature. - Discretionary decision is needed either on entry or exits or both. ...

We can’t control the win-rate of a strategy, but we can maintain a consistent risk-to-reward ratio. A system is profitable if the percentage of “(average loss) / (average loss + average gain)” is lower than the win-rate. Using the above formula as ...

Buy-Limit Oil (CLR) @ 79.48 —> 78.23 / 88.25 …

We can’t control the win-rate of a strategy, but we can maintain a consistent risk-to-reward ratio ... (1:3 is highly recommended)

Before we can develop a system, we need to learn how to read the market systematically and define things technically … And the reason I do my updates on weekends is because my strategies are based on the weekly charts …

Don’t analyze the market to find trades, but do it to develop a system ...

Do we know exactly what kind of market behavior to wait for before planning a trade? Or, are we just trying to make a deduction out of the current market condition?

Trading involves risk, and if we calculate our risk appropriately before initiating a trade, we should be comfortable maintaining that level of risk throughout the life of the trade … (set-and-forget approach)

Since we have no idea which support or resistance levels will be “respected” by the price, always use the last-formed support or resistance as stop-level …

For a trend-following strategy, always use TRL as initial-&-trailing stop ...

Spikes or quick-breakouts usually happen in the daily or lower timeframes. That’s why I recommend the use of weekly chart to identify the ongoing trend ... Uptrend = Higher-and-higher supports; Downtrend = Lower-and-lower resistances; Change of ...

A simple way to read the market: 1. When previous candle’s high is broken, a support is formed; 2. When previous candle’s low is broken, a resistance is confirmed …

When planning a trade, EP should be calculated after SL and TP are known/determined …

Wise men said … image

Yes, most traders lost because they relied on instant analysis instead of a proven profitable technical strategy ...

Trading is easy once we know what to wait for and what to adhere to ... (patience and discipline)

Isn’t that the only thing market can do? Trending up and down alternately ... Learn to categorize each swing as impulse or corrective wave ...

A lot of time, fundamental acts as a catalyst, but we usually need to be “onboard” before it happens …