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Fibone
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The "Flip" Trade (support and resistance changing roles)
Fibone replied to walterw's topic in Technical Analysis
The 4 hr FTSE100 chart shows *S/R flipping back and forth. *Horizontal and TrendLine -
Here's an article about Concentration http://www.counselling.cam.ac.uk/concen.html
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My own definition of a trading edge is a mixture of technical skills and psychology. 1. Knowing yourself ie identifying your strengths and weaknesses; 2. A logical and flexible trading method(s) suited to your own personality and written down; 3. Intelligent position sizing; 4. Maximising profits as much as possible; 5. Minimising losses and risk as much as possible; 6. Discipline to follow your trading plan; and 7. Patience to wait for the very best setups. Should lead to a trading edge ie positive expectancy.
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I guess many of the experienced traders know about this free newsletter on trader psychology. I personally find it a useful trading resource. http://www.marketwise.com/MW_RA/MentalEdge.asp