The market: Friend or foe?
Do you consider the market a friend or foe? Have you ever wonder why did the market always go against you?
Most traders didn't understand or make an effort to understand the market. If you make an effort to understand the market, congratulation you have obtain a great friend. If not, you have found your nemesis in your trading journey.
Traders that try to long at a historical low or short at a historical high often found themselves buried along side with the other comrades. Historical records are meant to be broken; a low/high will always be broken to set a new low/high.
The market will always show us a sign when he wants to reverse and go in the other direction. Normally when the market sits on a support level, he will show reversal pattern like double bottom or triple bottom. On the other hand when he is near a resistance a level, he will also show double top or triple top. These are advices he is giving us on our current position.
You don't have to catch the bottom (or the top), simply wait for the trend to establish first before you place any trade. There will definitely be a lot of pips to come for you to profit from.
Do you consider the market a friend or foe? Have you ever wonder why did the market always go against you?
Most traders didn't understand or make an effort to understand the market. If you make an effort to understand the market, congratulation you have obtain a great friend. If not, you have found your nemesis in your trading journey.
Traders that try to long at a historical low or short at a historical high often found themselves buried along side with the other comrades. Historical records are meant to be broken; a low/high will always be broken to set a new low/high.
The market will always show us a sign when he wants to reverse and go in the other direction. Normally when the market sits on a support level, he will show reversal pattern like double bottom or triple bottom. On the other hand when he is near a resistance a level, he will also show double top or triple top. These are advices he is giving us on our current position.
You don't have to catch the bottom (or the top), simply wait for the trend to establish first before you place any trade. There will definitely be a lot of pips to come for you to profit from.
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