Are you beginning to see why we like triangles so much? Here is one in December cotton. Here is what you don't need to make profits from this triangle:
- No technical indicators.
- No black box software or some fancy named trading system.
- None of those 'can't lose' trading recommendations.
It's just not necessary or even recommended that you try to learn everything there is to know up front. Get enough knowledge to start making money and then slowly increase your knowledge of the markets if you like.
One successful trade creates a hunger inside for more and if you grow slowly and not fall victim to greed, you'll increase your knowledge slowly and naturally. And this translates into more profits.
You'll have trades that don't go your way, but by planning for them first with stop loss orders they are easily managed with minimal losses.
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