Trend traders:
- NEVER attempt to predict where the market will go
- NEVER attempt to pick "tops" and "bottoms" of price action
- ALWAYS respect the trend and align their trades accordingly
- Let the market tell them when the trend is finished, not their "intuition"
- Realize that they will necessarily sacrifice some pips at the beginning and end of a trend as they
- Wait for confirmation that the trend beginning and end are authentic
- Look at price action from a long-term perspective and don't get shaken by volatility
- Understand that they will go through some potentially significant but temporary periods of drawdown as the trend matures
- Understand that trend trading can lead to large gains but also equally large losses
- Understand that trends can take place on multiple time frames
Found it in an Ebook reading right now.
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