The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily by Anderson Brian

Author:Anderson, Brian [Anderson, Brian]
Language: eng
Format: epub, pdf
Published: 2014-11-13T22:00:00+00:00

That newly found patience made a huge difference in my profitability. Rather than hitting the market to enter a trade, I patiently sat with bids at a level where fear would drive the emotional traders out, and they’d sell into support. If you see an area of support but you think the trade has moved above it, never to return, think again. It may take a few days or even weeks, but it will come down again to allow a low risk, high reward entry. And If it doesn’t, you’ve lost nothing.

The creative part of your mind is your enemy. The emotions you’ll feel, the hopes and wishes you have for the trade, your opinion about where the price is going, the fear that you’re going to miss out on a profit if you don’t get into the trade at this very moment—all these thoughts are working against you. You need to turn off everything but the analytical, rational part of your mind. This is easier said than done, but there are tools that can help.

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