Secret Two: Buy on price strength and sell on price weakness.
One of the predominantly accepted concepts in trading is “buy low and sell high.” It seems simple enough (easier said than done), but it is an arbitrary concept. A trend is not a trend until it is underway. Using the AbleTrend software in trading you must be willing to buy on price strength and sell on weakness. Good traders take advantage of direction and duration, not on the arbitrary concept of “cheap” or “expensive” prices. So the phrase “buy low and sell high” may be modified for our purposes to “buy high (on price strength) and sell higher” and “sell low (on price weakness) and buy lower.” To follow the true direction of a trend one must possess a comfortable grasp of this concept. Here is a recent example.
One big difference between professional traders and novice traders is that professional traders can and are willing to buy or buy more when the market price is up (or higher), and to sell or sell more when the market price is down (or lower). They do what the market is telling them to do. Novice traders tend to go the opposite way. They try to buy when the price is “cheaper,” and try to sell when the price is “expensive.” This is the way we are normally trained to behave, and how we act though out our lifetime. But it is not always the best approach for making consistent profits.
In the upcoming blog we’ll introduce Secret Three: Be more than willing to take small losses
The best way to learn a skill using trading software is by practicing it. Though the webinars and free one on one trading sessions will help you to prepare for actual trading on the live markets, it will not tell you how your psychology will react to the experience. This insight is gained only through experience, so give AbleSys trading indicators a try today. To get extra 10% off for AbleTrend 7.0 30-day trial, here is the code: WTMF10 (order online).
You may also learn more about AbleTrend on our blog: blog.ablesys.com
And watch archived sessions from our introductory and member’s webinar series:
Click here to view our youtube page
I welcome your feedback. Did you like today’s message? What other topics would you like to see? Please let me know at gracezh@ablesys.com
If you are an AbleTrend user this is a great time to share and introduce this great tool to your family and friends for the prosperity of 2016 and the years to come.
Happy Holidays!
Grace Wang
AbleSys Corp.
gracezh@ablesys.com