Re: Jedidiah's Holy Grail： Day Trading, The Trend Is Your Friend Trading System
151Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.
Breakout strategy involves setting support and resistance lines and waiting for sudden price breakthroughs to execute trades.
Finding breakout patterns is crucial, such as wedges, flags, rectangles, triangles, and pennants.
Look for momentum candles before confirming a breakout, typically large-bodied candles or three consecutive medium-sized candles in the same direction.
Set entry strategies to increase trading success and avoid false breakouts.
Implement a two-step take profit strategy: sell half of the shares at a 1.5 ratio and use the chandelier indicator to determine the exit point for the remaining shares.
Selling only half of the shares allows for more profits instead of limiting to a 1.5 ratio profit-taking.