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All About Day Trading by Jake Bernstein

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CHAPTER 12The Flat-Base Breakout for Day Trading

The majority of trading methods presented so far in this book have been as close to 100 percent objective as possible. I have indicated that the purpose of day trading position entry should be as mechanical as possible and as 100 percent rule based as possible, while exit strategies must be flexible and adjusted to market behavior. This approach to exit strategies is necessary because day traders are forced to be out of their trades by the end of the day, within the parameters of what we define as a day. However, I use and teach some day trading methods that I feel have potential as trading tools but are not as fully objective as I would like them to be. I do not recommend them for newcomers, but ...

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