Linda Bradford Raschke is a famous and talented trader. She was born in the USA in 1959. She has been trading for over 35 years. For the start, she used to help her father when she was young. Then, she worked at the exchange.
Tag: trading strategy
Most often, using Martingale on Forex is reduced to merely doubling the position after a loss.
The classic Pin Bar forms on the critical support/resistance levels at the maximal/minimal values in the places where, theoretically, the trend may end. However, there are more options for the Pin Bar formation, which are the places of the trend correction.
Trading against the main trend entails lots of difficulties and additional risks. As a rule, the trader in such a situation tries to catch a correction; however, it would be more efficient to wait for the completion of the current trend and enter a trade in the new trend. Even the most high-quality signal or pattern always realizes if it goes against the main trend. The trader has to be as attentive as possible and control risks if they try to enter trades against the main movement or catch the completion of the latter.
A trend is defined as a sequence of maximums and minimums. If we say that there is a bullish trend on the market, it means that every next maximum is higher than the previous one and every next minimum is also higher than the previous one. In this case only, we may presume that the trend is ascending and try buying.
EXTRA strategy, like any other, has long-term, mid-term and short-term goals. At the basis of this strategy lies a MATRIX. A matrix is practically the basic structure of the Elliott waves.
It happens very often that beginners start trading on financial markets and take these operations as some kind of a game of luck or gambling, but not as a serious, systematic, and sometimes routine work.