Besides from making sure you are using a broker with low spreads that is working for you and not against you the most important thing to do is always and only trading with the trend. Make sure you always get this right.
- Only trading with the trend will save you from big losses and keep you on the right side of the market as much as possible and in the long run will keep you profitable.
No matter the type of setup you are choosing to trade (trend following, Fib retracement, or support and resistance) trades can only be executed in the direction of the trend defined by the TrendCCI
- TrendCCI with a positive reading (above zero) = only Buy side trades
- TrendCCI with a negative reading (below zero) = only Sell side trades
Price is Everything
Trading is fluid, the market is always changing and you also need to be fluid.
The fact that price is everything is obvious but how do you trade it?
1. Observe what price is currently doing and ask yourself these questions before trading each day.
- Is it trending or range bound?
- Is the currency pair you are trading within it’s daily range or outside of it?
- Are there any high impact news events coming up in the next 24 hours?
2. Set your stops and profit targets in relation to the type of market you are currently trading.
The best way to come to fully understand the power of the system is to begin trading it. It is only through your own experience with the system in action that you will know its worth.
Continued help and education
This is just the beginning. I will be sharing with you regular updates and videos of trading sessions to work with you and help you every step of the way.