Spent my weekend reading " The complete guide to Day trading " by Markus Heitkoetter .
After I finished reading one thing that I can't seem to forget is " A monkey can enter a trade , but money is made ( and Lost) when a Trader exits the trade " .
It seems all these books are written just for me .
Before one starts to trade one has to know
First and foremost is to determine the Trend . When the trend is Up , avoid selling and vise versa.
Make small but consistant profits .
One HAS to close the trade if either Target Hits or SL hits. NO staying on for a bit longer.
Discipline and Patience is the KEY to success.
Keep your trading as simple as possible .
having said that lets get to the charts ....
Following is the day chart with trendlines drawn from recent low of 4770
After I finished reading one thing that I can't seem to forget is " A monkey can enter a trade , but money is made ( and Lost) when a Trader exits the trade " .
It seems all these books are written just for me .
Before one starts to trade one has to know
First and foremost is to determine the Trend . When the trend is Up , avoid selling and vise versa.
Make small but consistant profits .
One HAS to close the trade if either Target Hits or SL hits. NO staying on for a bit longer.
Discipline and Patience is the KEY to success.
Keep your trading as simple as possible .
having said that lets get to the charts ....
Following is the day chart with trendlines drawn from recent low of 4770
