I found this online while digging for some stuff on Google. I thought this list of classic rules are just awesome to have hanging on board in front of your trading setup.
Time Tested Classic Trading Rules By Linda Bradford Raschke - Traders Log
Enjoy!
Some great advice there.
But one has confused me a little, its seems counter intuitive, I would have thought it would be the other way round.
‘Successful traders buy into bad news and sell into good news’
Any ideas into the reasoning of this?
Well, yes, it’s designed to send traders the wrong way, not really relevant to Forex though, it’s to do with stocks, long story harking back to the bad old days of the Wall Street Crash.
Anything by LBR is usually very high quality stuff. good link
Awesome post!
Thank you
Buy into dips. Google gets sued, price drops on news. Google isn’t going anywhere. Get in while it’s cheap hang on until they announce their next cool idea. Sell when everyone’s buying.
I can’t see this methodology working in forex at all without some hardcore fundamental analysis backing it up.