Benefits of this Method
To clarify why the methodology you’re about to learn is so important, here are some compelling reasons to make this a serious part of your trading routine:
- Not letting a winning position turn into a losing one.
- Gaining confidence to seek out and find new opportunities.
- Exercising discipline in your trading plan methodology.
- Specializing your trading based on proven chart patterns.
- Avoiding confusion with this simplified method.
- Only entering into trades when the trend is proven and confirmed by the pattern.
When people have attended my workshops, they leave knowing how to create a trading plan, which is exactly what we’re going to accomplish here in the next few pages.
The typical problems faced by traders include
- Overwhelming amounts of information
- Complexity of trading methods
- Lack of confidence in finding new opportunities
- Lack of discipline owing to complexity and lack of confidence
- Poor timing of trades
- Time constraints to learn about and then implement trades
Every trader needs to create a proper trading plan and specialize in a proven chart pattern within the overall context of a trend. By following the method, you’ll discover that time no longer is a constraint. You won’t be overwhelmed because the trading plan is simple to execute, thereby helping your timing. Your confidence will increase as you start finding opportunities with ease.
The first step is to identify what types of stocks we’re looking to trade.