mp6140
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================================================================ALL YOU NEED TO TRADE IS A HORIZONTAL LINE
TRADING IS SIMPLE.
There is an entire industry built around making you think it is complicated.
All you need is a HORIZONTAL LINE on your chart to be a profitable trader.
about 6 years ago I made my trading method for equities available and received over 5000 dowloads and one of the strongest points I made then was the "prior days closing price", which is what TRO refers to as the "horizontal line"
If it is used on the first or second day of a stocks move (or most any other trading vehicle also) it is invariably correct that the closing price of that days move will be to the upside ---- on day 3, one takes profit by 11:30AM, EST at the latest and watches to see what the currency will then do, which is invariably selloff !
there then becomes a "second run" a few days later, which can be determined by following "muddys method", using either a mathematical retracement, or a "zone" created by a moving average "area" (google for more information)
in the case of most trades, during a single day, there is a time when the move is up, then a retrace as shares are sold, shorted and accumulated for the afternoons run ---- this exists with stocks, bonds, commodities, futures, forex and baseball trading cards and is of no surprise to the experienced trader at all --- in fact, its how traders and mm's make their best profits !
so when you have a stock move past its "prior close horizontal line", take a look at what day in its movement youre on, and if its the FIRST DAY BREAKOUT, you will have a reasonably strong move right to the closing bell, on the SECOND DAY you enter immediately upon that cross, realizing that the currency, stock or whatever will usually drop BELOW the prior close and then come back up again as everyone grabs cheap shares for the next runup and exit before noon if you are daytrading, or hold the currency for the day and sell at the open of the third days upside move (but get out reasonably fast, as its a rare stock that wont profit take on day 3.
paper trade the above and see if you like it or not, and then get your horizontal lines sharpened up and ready to go !
enjoy and trade well
FOREX FOREVER !!
mp
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