November 6, 2009, Newsletter Issue #2: Technical Analysis is not 100% Accurate
Tip of the Week
Technical Analysis will give you an edge, but remember it doesn't work 100% of the time. Understand that certain technical set ups are more likely to be successful than other set ups. Wait until the pattern is confirmed; or a break out occurs, before entering your trade. If the pattern fails, you have to be disciplined enough to exit the trade right away. Find the chart patterns that are the strongest and work best for you. Learn the patterns inside and out; and only trade these patterns so you have a better chance of maximizing your gains and minimizing your losses.
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