Having a trading model is the no.1 rule for any stock trader.
I have one too which I follow like a religion, no questions asked!
......I hereby, share the same with all my trader friends...(The main idea is not to discuss the exact method but the concept of the method.)
It comprises of three parts.
A) To enter the market, i wait for a signal from
INFORMERS (Trade Trigger Tools)
= Spike= Step-up till re-entry= Step-down bluff= Opening Gap= BTST Strength= Kneel & Jack= Outer Circle Bluff
(These are my favourite informers, i have learnt and practiced these hard and will continue to master them) (I concentrate on the opportunities thrown by the above mentioned triggers only)(If i get the signal I trade, if I don't get the signal I don't trade, simple.)(These informers not only tell me when to enter a trade but also when to exit!)
---------------------------------------------------B) If I have any doubt in the trade i am going to initiate, i take help of:-ADVISORS (Trade Confirmation Tools)
= EMA crossover= RSI---------------------------------------------------C) To trade with confidence and to minimise loss I use
BODY GUARDS (Capital Safety Tools)= Stop Loss= Hedge---------------------------------------------------You may find this method different from your trading method.
Every trader's trading method may be different!
No question of one method being better than the other.
What may be effective for you may be not so effective for me. All that is important is that one should have a system, a method, a model, a set of rules to follow.
These should be decided after thorough study and trials.
But once decided, these should not be changed that easily.
---------------------------------------------------I suggest all trader friends to have such written trading model and follow it ruthlessly!
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