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Strategies & Market Trends : NetCurrents NTCS

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To: Judy who wrote (7432)	7/28/2001 2:20:39 PM
From: Teresa Lo	Read Replies (2) of 8925

Bread and Butter Set Ups I think most people simply don't realize that the market only has two modes: trend (directional or grinding) and chop (trading range or consolidation pattern). The most profitable is the directional trend mode, and there are only two setups: retracements and tests. New traders should attempt to trade the bread and butter setups, i.e. only the retracements and tests in the directional trend. That's why the oldest piece of advice is: "The trend is your friend (trade retracements) until the end (test), when it bends..." That's all there ever was, no matter what anyone says, and the key it to KISS. So many traders and educators make it seem like they have an "arsenal of weapons" for trading, but in the end, it's all moot, if they cannot identify which of these few conditions they are attempting to exploit, and I am sure that we can do this without even going into multiple time frame analysis by slapping on a few moving averages... T.

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