Hello Friend,
A few days ago I promised you some freebie education, and I'm here today to deliver on that promise.
In Aristotle's book Poetics, he wrote a story has a beginning, a middle and an ending…
While that is a simple concept, we all know a story is anything but simple! It has twist and turns and surprises along the way. That's what keeps a reader engaged… and that's what keeps a story interesting.
There are certain skills that a trader needs, which I call the building blocks for building strategies and trade plans.
These building blocks support the skills required to read the charts like a storybook. Each chart tells a story about what part of the market cycle we are in and once we understand how to read the various market cycles, we will be better apt to trade what the chart is telling us and be prepared for the potential twists and turns.
The tools in the toolbox help traders to stick with their positions during trend moves, to know when the end of the trend is near, and to understand which indicators to use during trend and sideways markets.
By understanding a basic approach to the market cycles through Elliott Wave Analysis, a trader will be more skillful at navigating the markets, similar to using a GPS when navigating the roads.
I begin by discussing trends and market cycles…
TAP HERE to read the full article on my blog.
Best Regards,
Jody Samuels and The FX Trader's EDGE Team
jody@fxtradersedge.com
Disclaimer: Trading is risky so only risk capital should be used.
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