Introduction by ebook's author:
At this point, you decided to enter a LONG trade and happily click on the BUY button. Somehow, the market suddenly reverses and all you can do is sit and watch how the price slowly moves toward your stop loss.
To make things worse, the price moves back up in the direction you have entered your trade earlier on and you start to ask why don’t you set your stop loss further away.
All the indicators may be showing you that an upward movement is coming and you have a trend line break BUT
The above is one frustrating problem that most traders face when they are trading. Without exception, I used to have the same problem when I first started trading a few years back.
When I see a trend line break, I will quickly enter a trade only to find the market starting to reverse after I have entered my position.
This did not just happen once and in fact it happened so many times that I started to think that the market was trying to go against me.
It took me quite sometime to know why I am always at the wrong side of the market and things started to change for the better after that.
One of the reasons I am always on the wrong side of the market is because of the trend line I am drawing. Most people think that trend line drawing is very simple and therefore do not pay much attention to it. In fact, do you know that your trend line is changing every now and then? The reason why the market reverses once you enter a trade at the point of trend line break is because the break did not occur at all!
I will be showing you how you can verify if a trend line break really does occur with the help of an indicator. In addition, you will learn how to draw the right trend line so that you will not enter a wrong trade again.
The next problem that I usually had when I first started trading is that the market would suddenly reverse and take back all the profit I have accumulated in the trade. This makes me scratch my head wondering what has happened.
What I did not know at that time is the price has hit something called the ‘Medium-Term Trend Line’ or ‘Long-Term Trend Line’ and this is what most traders are unaware of.
Therefore in this book, I will be sharing with you how you can overcome these problems and make you a more profitable trader in the long run.
With the constant requests from my blog readers asking me to coach them in their trading, I have decided to share with you one of my trading strategies and it is written in this invaluable book.
In this module, you will learn the trick to drawing various types of forex trend line and I will show you exactly how to know whether the trend line break is a fake out or not. This can be very useful… Read more…
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