Friday, June 21, 2013
- Trend is friend indeed. Overall trend shows sentiment of crowd.
- We are supposed to spot the trend and after inserting in it remain with it till its reversal. It sounds very simple and indeed it is. But if it is so simple and obvious no one should be looser in this game. It is simple but not easy.
- One way of taking advantage is after spotting the trend observe it in one hour chart,then 30 minutes chart,then 15 minutes and finally 1 minute chart. Trade 1 minute chart for profit. If momentum is in direction of trend profit will increase accordingly otherwise stop loss will be triggered.
- In most of the cases it works.
- Here we are talking about small profit many times with many trades in a day trading.