Video 07A&B: Starting Out

Question 1

True of False: Trade management is more important than picking the right entry

Answer 1

True

Question 2

True or False: Enter strong breakouts right away?

Answer 2

True. The stop is always at the beginning of the breakout though. So size accordingly

Question 3

What is the goal of a reversal?

Answer 3

Ten Bars, Two legs (TBTL). Look at highest time frame where the pattern is, and has legs lasting 5-10 bars for confluence.

Question 4

True of False: It is better to be consistent with a small amount of contracts. then build up to more contracts

Answer 4

True

Question 5

True or false: If I am worried, fearful, greedy, hopeful, carefree, restless, tired, bold, confident or anything at all, I will be unable to follow what the computers are doing and I will lose money.

Answer 5

True

Question 6

How to reduce my emotional effects on decision making

Answer 6

Trade a size that doesn’t effect me emotionally.

Question 7

What do I do if I see a trend but a pullback never comes?

Answer 7

Buy anywhere, but buy small.