Many famous
economist, strategist, advisers, etc. feels very comfortable saying “I don’t
know” When topics have reference to expectations or about the future. Nothing
is wrong with all of them, because no one can know with certainly what will
happen in the future. Some of the most common questions that many people make
me: Can I trade this pair? I can keep my position open? Can add another
position at this level? Should I close my position?
If you ask
me about the future, my answer is… I don’t know.
In this chart below the common questions are: Can I trade this pattern? Is an opportunity?
Or, can add more?
My
answer: Sure, you can trade this… or wait for the 161.8% extension.In
the next one… I can keep my position open? Or, is time to close this position
and achieve profits?
First to
all... You need to know what are you doing in advance. What is your method,
strategy, system, etc. what are you use to trade? If you identify an
opportunity based on your method; just trade it.In the
second chart… Many times the idea of achieve profits before this vanished
scream in your mind very loud and when you close the trade and the price
continues to your favor; you begin to feel very uncomfortable, very
uncomfortable. Now the advice of “let your profits run and cut your loses fast”
sound very loud in your mind: Forget all loud noises, and focus in what you
planned before enter a trade, take under consideration time… but first, if you not
have a plan... Do you want an advice? Well, my advice for you: When you find a
pattern, put special attention to your risk. I repeat this one more time. I don’t
know if your trade works or not. Our job as traders is reduce risk and trade
based on numbers (probabilities). Harmonics are very good for me, because
provide me a high probabilities trades and low risk trades.Last words:
If you want to learn more about how I trade; I can offer my teaching services
(very new for now), and if you want invest or open an account I can introduce
some regulated firms.
Happy trading!
Happy trading!
