- Purpose – Capitalized gains while minimizing losses. Find an acceptable risk entry point and hold until divergence breaks (to be defined later) or the trend change happens an your positive exit based on acceptable risk.
- Experience – What I have found to work and not to work. Items that lost me more than it should and areas where I could of made more than i should on a winning trade. This strategy requires intermediate understanding of TA, but will try to provide educational links on the various topics.
- Concept – The 3’s, (3 charts time-frame, 3 types of trades, Divergence in 3’s – not sure on the divergence yet, 3 wave structure vs 5 in EWP and why to trade off 3 waves not 5 – understand 5 structure but trade the 3. Moving average of 3’s) Channels and Fibs. understanding of pressure as it relates to different market time-frames. Divergence and Divergence break. (biggest part right here)
Before we take the gloves off
- Know your surroundings – it’s a jungle so know the dangers before you jump in head first. (i.e look at all chart time-frames)
- Tattoo the 3 charts used to trade on your forehead before you hit that “buy” button.
- NEVER CHANGE FROM THE 3 CHARTS.