Imagine you are a trader with limited funds and you identify three potential flag patterns developing in the Australian market. Which one do you trade?
This is where a trading plan, a trading philosophy and the tick-in-the-box approach comes in handy. I discuss these things in my book Simple Tactics, Profitable Trading and owners of this book know what I am talking about when I reference it here in this blog.
So, our three stocks are BHP, STO and QBE. We will update these charts at the end of the week when we publish our next FREE fortnightly newsletter (back issues available here).
All three stocks look fairly similar but we prefer to trade with as much safety as possible so we look at a small number of variables or indicators and trade only those stocks which have all the variables lining up at the same time.
Only one of these stocks is suitable for us at the moment. We will reveal which one we are personally trading in our newsletter at the end of the week.
Here are the charts.
Visit us at www.stpt.com.au
This is where a trading plan, a trading philosophy and the tick-in-the-box approach comes in handy. I discuss these things in my book Simple Tactics, Profitable Trading and owners of this book know what I am talking about when I reference it here in this blog.
So, our three stocks are BHP, STO and QBE. We will update these charts at the end of the week when we publish our next FREE fortnightly newsletter (back issues available here).
All three stocks look fairly similar but we prefer to trade with as much safety as possible so we look at a small number of variables or indicators and trade only those stocks which have all the variables lining up at the same time.
Only one of these stocks is suitable for us at the moment. We will reveal which one we are personally trading in our newsletter at the end of the week.
Here are the charts.
Visit us at www.stpt.com.au
