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strategy. Likewise, there is no "incorrect" way to enter the marketprovided you have developed, back-tested, refined, and then finally tested your strategy in real time. There most definitely is a wrong way to enter or exit a market. This incorrect way is to use a strategy developed by someone else, one that you have not internalized within you and that you apply inconsistently. There is nothing inherently wrong with using an indicator developed by someone else, provided you have validated the ability of this indicator to perform to your standards. You accomplish this by back testing, validating, possibly customizing the indicator, and then finally testing the strategy or indicator in real time. |
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I sincerely hope that by now you are beginning to understand how placing your faith in a purchased program or get-rich trading book is the certain path to misery and financial ruin. Developing your methodology to determine the continuity of thought, and the strategy to determine where to enter and where to exit, is not easy. If it was easy, everyone would be tradingand driving around in a Ferrari! |
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