Андрей Сырбу
New member
"Taylor's trading technique", a short-term method for trading intra-day price movements that relies entirely on odds and percentages. This is a method as opposed to a system. Very few people can blindly follow a system, although many find it easier to be controlled by a system approach.
Since the short-term swing technique (a technique based on fluctuations) leads to frequent trades, it is important to know the " rules of the game "in order to capture profits and look for the"true trend". Losses are taken just to get a better position. Trading is conducted strictly for future results, and not based on what the market can do.
Knowing the "rules of the game" means knowing when to buy or sell, exit or hold. Trades are based on" objective points", which are simply the highs or lows of the previous day. The movement between these two points determines the "true trend".
When you trade on fluctuations, manage your expectations. The lower your expectations, the happier you will be and, surprisingly, the more money you will probably be able to make! Entering the market is part of the pie, but you must also trust yourself to get out of bad trades. It is important to use closer stop orders when trading on fluctuations and wider stop orders when trading on a trend.
This method teaches you to expect! Never react! Know what you are going to do before the market opens. Always have a plan - but be flexible! Consider your stop order (support or resistance) before opening a position. Know how to trade in case of unfavorable development of events and to get out of losing trades with the least loss.
Finally, never trade in narrow, dead markets. On them, the fluctuations are too small. Never pursue the market. Instead of worrying that you missed a move, think instead, " Great! I will have a movement in the opposite direction."
Since the short-term swing technique (a technique based on fluctuations) leads to frequent trades, it is important to know the " rules of the game "in order to capture profits and look for the"true trend". Losses are taken just to get a better position. Trading is conducted strictly for future results, and not based on what the market can do.
Knowing the "rules of the game" means knowing when to buy or sell, exit or hold. Trades are based on" objective points", which are simply the highs or lows of the previous day. The movement between these two points determines the "true trend".
When you trade on fluctuations, manage your expectations. The lower your expectations, the happier you will be and, surprisingly, the more money you will probably be able to make! Entering the market is part of the pie, but you must also trust yourself to get out of bad trades. It is important to use closer stop orders when trading on fluctuations and wider stop orders when trading on a trend.
This method teaches you to expect! Never react! Know what you are going to do before the market opens. Always have a plan - but be flexible! Consider your stop order (support or resistance) before opening a position. Know how to trade in case of unfavorable development of events and to get out of losing trades with the least loss.
Finally, never trade in narrow, dead markets. On them, the fluctuations are too small. Never pursue the market. Instead of worrying that you missed a move, think instead, " Great! I will have a movement in the opposite direction."