The Quotable Al Brooks
Posted on June 25th, 2009
Written by Richard
Posted in: N/A (old archives)
How many times have my live room folks heard me say something just like this:
“If you enter before the bar closes, you might occasionally make a tick or so more on your trade. However, once or twice every day, the signal that you thought was going to happen does not and you will lose about eight ticks. That means that you need about eight early entries to work as planned for every one that does not, and that simply won’t happen.”
(from Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader)
My thoughts exactly!
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.