back start next
[start] [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [ 91 ] [92] [93] [94] [95] [96] [97] [98] [99] [100] [101] [102] [103] [104] [105] [106] [107] [108] [109] [110] [111] [112] [113] [114] [115] [116] [117] [118] [119] [120] [121] [122] [123]
91 Trading By The Bool< - Part VI CHAPTER 3 Chart Perspective Figure 2 Look at the Copper charts on the next page. You can see Copper snaking along in a trading range. But then look at the magnitude of the vertical scale. It is quite large going from the lows of the 76.10 area to the highs of the 128.30 area. Anyone can see from this chart that Copper was in a trading range (Upper chart). But it was a bit more difficult to see at the time Copper was between 77.70 and 95.30 (Lower chart).
1283B [ 12388 11786 11264 10742 10228 9698 9176 8654 8132 7610 i Figure 2 HGC 9538 9354 9178 9802 8826 8658 8474 8298 8122 7946 7770
Trading By The Book - Part VI System VS. Method Here is my definition of the difference between a trading system and a trading method. ! base this on over 30 years of being involved with both systems and methods analysis. A system Is extremely mechanical, and leaves little room for emotion, personal thought and intervention. A trading system is something that is traded mechanically. To make it work, one does what the system dictates and that is all. Deviation from the system results in failure. Judgment is not involved. A trading method is different in that it allows for human intervention. Judgment, wisdom, and personal thought are al! able to enter into a trade. The allowance for emotion is the weak point in a trading method. It requires self-control. However, the ability to intervene and use wisdom and sound judgment, in my opinion, more than makes up for the risks of emotion, provided that a trader has established self-control. Im convinced that any trading method that shows a win-to-loss ratio of 55% or more, with a profit to loss ratio of 3-1 or better, will result in success if ones emotions are under control and self-discipline is exerted. The trading methods in this manual all have the necessary win-to-loss and profit ratios needed for success. The methods shown have worked with only small modification since before the turn of the century. A trading method, of necessity, involves creating a trading plan. I hate to be trite, but one of the wisest sayings is "plan your work and work your plan." This is essential to good trading. Planning and working a trade keeps me from "willy-nilly" trading, tradinc on whims, and trading from emotion. "Perfect love drives out fear." I love trading enough that I am willing to work my plan and stick with it. With a plan it is possible to have the courage of your convictions. That courage has turned many a loser Into a winner for me. 1 know where Im going, why Im going there, and when I might get there.
[start] [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [ 91 ] [92] [93] [94] [95] [96] [97] [98] [99] [100] [101] [102] [103] [104] [105] [106] [107] [108] [109] [110] [111] [112] [113] [114] [115] [116] [117] [118] [119] [120] [121] [122] [123]
|
Menu
