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Technical Analysis For Dummies, 4th Edition
book

Technical Analysis For Dummies, 4th Edition

by Barbara Rockefeller
October 2019
Beginner content levelBeginner
384 pages
10h 46m
English
For Dummies
Content preview from Technical Analysis For Dummies, 4th Edition

Chapter 5

Managing the Trade

IN THIS CHAPTER

Bullet Creating trading rules: The five-step plan

Bullet Blending trading rules with indicators yields trading style

Bullet Knowing when to take the money and run

Bullet Keeping losses under control

Bullet Finding out how to adjust positions

Bullet Nailing down the best trade management tool

Indicators are notoriously unreliable. The true secret to successful trading is to accept indicator unreliability and to take steps to offset that unreliability with disciplined trade management practices.

The indicator system doesn’t exist that always results in gains and never results in losses. You will take losses. Indicators are like the raw materials for baking a pie — the oven, the pie plate, the flour, the filling. Indicators are about price changes, or things. Trading rules are about the process of trading, involving you and your money. Managing the trade is like becoming a skilled ...

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Technical Analysis For Dummies

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Publisher Resources

ISBN: 9781119596554Purchase book