By F. H. Chick Goslin
ISBN-10: 0974092118
ISBN-13: 9780974092119
Buying and selling daily is overflowing with the basic truths and trustworthy buying and selling principles each dealer has to be aggressive in any marketplace, at any time. the 3 traditional legislation of buying and selling, an clever procedure and technique, a legitimate mathematical process, the spike rule, the error rule, divergences, relative energy, the reality approximately thoughts, businesslike funds administration, over 100 "real time," daily chart examples, and lots more and plenty extra.
whereas particularly approximately futures buying and selling, its method and strategy are both appropriate to currency, shares and the other market.
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Extra info for Trading Day by Day: Winning the Zero Sum Game of Futures Trading
Example text
This is VERY IMPORTANT because it tells you how long you should plan to hold on to the trade as well as how aggressive to be in your positioning. Therefore, always be fully aware of whether a market is in concurrent or crosscurrent mode, as well as how solid this mode is. The odds of success are best and the risk/reward most favorable when positioned with a solid concurrent mode. THE SECOND LAW OF TRADING 49 THE SHORT-TERM MOMENTUM LINE it is the direction line. The intermediate-term momentum line (ML) indicates approximately when it is best (in terms of probabilities and risk/reward) to be positioned with the trend; the ML confirms the trend.
THE SECOND LAW OF TRADING 51 Trading is a numbers business. , prices). That is the difference between words and numbers, as well as the difference between word and image professions and numbers professions. Words are infinitely malleable, the truth of their meaning totally dependent on the honesty of the speaker or writer. Numbers, on the other hand, are completely inflexible, even if the speaker or writer is totally dishonest. Numbers/prices do not lie; they are what they are regardless of who speaks or writes them.
A 50-day moving average of a price is an average of the past fifty days of closing prices that is recalculated daily. , the price ten weeks ago). , downtrend). Therefore, to anticipate the direction the moving average will head next, simply compare the price area of the past few weeks with the prices around ten weeks ago. In other words, if current prices are clearly higher than they were ten weeks ago, we can anticipate the ten-week moving average will continue to move up; if lower, we can anticipate it will continue to move down.