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I have a candle signal – now what do I do? Here is where you get Steve’s answer with his 6 step Trading Checklist. Do you have the problem of letting your profits run? Then the section on trailing stops will be perfect for you. Emotions rule your trading? Then see how a trading journal will put you in charge of your emotions so you can as Steve says, “trade the market like Spock.” That is logically, clearly and unemotionally.
Here's what you'll learn:
- Why ignoring trade management is the most common and dangerous misuse of candles
- The 4 major components of Trade Management
- Review of risk/reward
- Review of adapting to the market
- Which is a better trading signal and why – Dark cloud cover or bearish engulfing pattern
(the answer will surprise you!)
- Protective stops
- Why protective stops should be the first aspect of a trade
- Time stops
- Definition of a time stop
- Using time stops to free up trading capital
- Trailing stops
- How trailing stops help let your profits run
- Using golden and dead crosses for trailing stops
- Steve’s favorite moving averages to use with golden and dead crosses
- Using a Trading Journal
- Importance of using a trading journal
- Setting up a trading journal
- How to use a trading journal before the trade
- Using a trading journal after the trade is closed
- Bringing it All Together with Your 6 Step Trading Checklist
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