(This is a mini-series of Forex Trading tips and tricks by Eric Lye in his Forex Trading Blog. Our objective is to help traders learn how to trade Forex properly, be educated and excel in their career)
Read this from Martin Pring's book. "A Trend is a period in which a price moves in an irregular but persistent direction."
I like this definition as it helps us to define what is market direction respective to the time frame. i.e. We should not be too sticky to the common school of thought that we should trend following strategies, especially for full time traders. Learn to be flexible and trade what you see.
Friday, May 21, 2010
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