DislikedFor all the noobs like me, I'd like to share something I leanrt from a very respectable trader, Cloggie
1st, Patience! if your entry doesn't get triggered, too bad, don't chase the trade!
2nd, CONFLUENCE! watch the chart below. Got the BIG 3330 level, got PP at 3339 and got 50% retrace of down move all withing 10 pips! I got entry with only commission as DD and will soon move s/l to be...
Got s/l above 61.8% retrace as in my books, a retrace of more than that is a change in direction! I only use 38.2 50 and 61.8 retraces, the rest I find...Ignored
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