Saturday, May 3, 2008

Review

16:43] well the safest way to trade
[16:43] is like this
[16:43] this is it - the basic framework
[16:43] I will do a step list
[16:43] of how to beat the market lol
[16:44] 1) Use an anchor chart to determine the trend
[16:44] 2) If there is a trend go to step 3, otherwise, back to 1
[16:44] 3) Once you have determined there is a trend, wait for a retracement to a major S or R pivot, major TL works
[16:45] 4) Patiently wait for reversal formation at that area, this formation should be AGAINST immediate trend but with the anchors trend
[16:45] 5) Apply discipline and solid money management techniques, at all times, make sure reward surpasess risk
[16:46] 6) Ignore all else go back to 1
[16:46] Done

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