fxpriest
New Member
Focus on the larger market trend.
The larger market trend will determine whether your trading strategy works more than your opinions and predictions. Buying the dip is less likely to work in a downtrend, buying breakouts will fail in range bound markets, and selling short will lose you money most the time in uptrends. Your trading strategy must be in sync with the larger overall market trend through entry and exit signals.The path of least resistance is in the direction of the market trend. It can be very expensive to fight the overall trend in the stock market. Bear markets eventually bring all stocks down and bull markets can keep making unexpected new highs in price. Most of your success will be based on your ability to identify and follow the trend.
