No chart pattern formation is a absolute guarantee of market direction, but it is extremely helpful when the trader is aware of the chart’s pictures.
All traders make directional trades in stocks, commodities and forex. I, for one, try to enter trades that are in tune with the market’s direction. When I do this, I give myself an edge (Red’s Edge) because, when a market is rising, most stocks can be expected to rise, as in “a rising tide floats all boats” as some put it; that’s a Bullish POV. The opposite is true when the markets turns South, in that one can logically expect most stocks to be down when the market is down, hence, the bias on directional plays will turn Bearish.
In the Trenches: Even if you know absolutely nothing about how to start making a living in the stock market, and want to learn how to do it, the first step is to learn from someone who knows how to do it successfully. The stock market is about success, and the lifestyle that comes with it, but it must be done carefully, both by picking the issues and in the trading of them, because one wants to make money doing it independently and without stress. “A journey of a thousand miles begins with the first step” (Confucius).
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Have a great weekend!
-Red
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