I believe Graeme will soon be back with another chapter of his book, and we thank him in advance.
While waiting, lets share what we have so far learned here.
As for myself, I already new the 4 important rules of trading that are:
Trade with the trend
Cut the losses short
never average down, and
Let your profits run.
My main struggle was with this last one, how to let the rare profits run. I fund the answer to it here and it is my biggest lesson so far in this thread: KEEPING THE STOP AT BE AND LEAVING IT THERE for all the duration of the trade. This reminded me of the great Jesse saying "it was my sitting tight that got me the great money trading...it is no trick at all being right in the markets". And Graeme illustrated it very well when he said 2you might trail your stop to 150 after a 250 pips rally. But a normal retrace can put you out of a trade that may headed for a 1000 pips rally".
I am aware the next struggle is to implement it, especially as I am not well funded. Nevertheless, this is my lesson numero uno.
How about you people ?
Muntu
While waiting, lets share what we have so far learned here.
As for myself, I already new the 4 important rules of trading that are:
Trade with the trend
Cut the losses short
never average down, and
Let your profits run.
My main struggle was with this last one, how to let the rare profits run. I fund the answer to it here and it is my biggest lesson so far in this thread: KEEPING THE STOP AT BE AND LEAVING IT THERE for all the duration of the trade. This reminded me of the great Jesse saying "it was my sitting tight that got me the great money trading...it is no trick at all being right in the markets". And Graeme illustrated it very well when he said 2you might trail your stop to 150 after a 250 pips rally. But a normal retrace can put you out of a trade that may headed for a 1000 pips rally".
I am aware the next struggle is to implement it, especially as I am not well funded. Nevertheless, this is my lesson numero uno.
How about you people ?
Muntu
Patience is magic