Trade What You See: How To Profit from Pattern Recognition Larry Pesavento, Leslie Jouflas
Publisher: Wiley

As posted earlier, to achieve higher rewards (profit), you must take on more risk (uncertainty). US session: max loss 20/40pips (4 losses in a row), profit target = any positive Be disciplined every day, in every trade, and the market will reward you. Chart patterns are a result of human nature and trading psychology. Trade What You See: How To Profit from Pattern Recognition Larry Pesavento, Leslie Jouflas ebook pdf. Being able to interpret and understand Forex Charts is key if you want to become a successful trader. Trading is just a probability game based on pattern recognition. When you are in an uptrend and you see the forming of a symmetrical triangle, there is a high chance that you will see a continuing of the uptrend once the market breakout of the triangle. The same applies when you are in a The reason why I say that the triangles are easy to trade with is because they give you a very distinct recognition pattern and they also provide you with a level to place your stop loss and take your profit. Download Trade What You See: How To Profit from Pattern Recognition. Have over time; Your internal confidence in yourself, your system (which is larger than pattern recognition), and your abilities to achieve your clear targets; Barriers (internal) to achieving the goals you envision and how to overcome them Is there a particular phase of the chart where you personally feel most comfortable taking your trade when you see your pattern? Pattern recognition can also provide the technician with profit targets by measuring the length between 2 price points, as well as the expected time frame by analyzing the amount of time certain patterns take to unfold. EU session: max loss 20/40pips (4 losses in a row), profit target = any positive result. Chart patterns play a critical role in usefulness technical analysis. If you can learn to recognize patterns early you can also learn to profit from breakouts and reversals. But don`t claim to be disciplined if you are not 100% of the time. Mar 8, 2010 3:18am | Edited at 9:35am.