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RE: The Happy Trader episode #6.. What do you do if you see a storm coming? Avoiding storms and preserving your capital is key.

in #money8 years ago

Thanks again for your vote and support.. Yeah i really only trade panics. Its just such a predictable pattern, and therefore I rarely ever lose. There are many breakout traders out there, but I have found that to be very dangerous. So many times a breakout fails and crashes and results in a huge loss because you totally bought the top of the chart, expecting it to go higher.. and often it does go higher, but when it doesnt, ouch.. So i stick with the easy trades, panic bounces. And I have never found a way to predict these, as the reason for them changes with every panic. Often its news related, but sometimes its a rumor, or just the result of a momentary lack of bid support.

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Thanks for the reply. I can see how that works. How do you signal panics? i.e. how do you keep track of many different currencies/stocks? Are there alerts? Do you set automatic buys at certain (what?) points? Sorry for all the questions, but these are things that I bump up against.

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