I wanted to re post this article on “patience” as it comes to mind often in my trading. At times when you may be frustrated or confused about market direction – it’s often a good idea to just step back and consider “patience…..patience….patience”.
Have a good weekend everyone.
Sideways is not a direction I am particularly fond of. You can’t make money, and for those unable to distinguish the characteristics of “sideways” – you can also lose money – very fast.
Traders dream of mounting profits – with day after day followed by yet another tall green candle, with trend so clearly in place that a five-year old could trade it effectively. This is rarely the case. Where as – we are most often faced with ambiguity, trendless markets, ranging stocks or currency pairs and a general sense of confusion as to “where the market is going next”. In fact, they say that markets are generally only trending 30% of the time – and that the remainder of time is spent grinding traders accounts to dust in the dreaded direction of….you guessed it – “sideways”.
Lets look at a quick example.
In the example above – clearly no…
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Forex Trading with Kong 