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TFC Commodity Trading Forum

Re: 7 to 10 day rule for an active market

I have found that systems that prevent you form trading, or give "Don't trade" signals are superior.
It's not about confidence, but about the wisdom not to trade foolishly when you have signals that a setup is not stable enough to rely on.

It takes greater discipline to not enter the market, than to blindly take every set up no matter what.

I don't trade if I see warning signals. I only enter on perfect set ups. As soon as a trade looks like it may go bad, I exit quickly, before I am losing money. That is why I win, 80% of the time.

Your "Magic" 7-10 rules have no "Do Not Trade" signals to tell you when your signals are false. That is why they are inferior.

As for my next trade, I see no perfect set ups at the moment. I may change my mind tomorrow, who knows. I have to see how it all plays out in real time. I try not to make calls, or predictions when I trade. I wait, patiently, untill my set up forms and executes. Then I jump on and ride the wave till it exhausts itself or I start seeing exit signals and warning signs. I never know for sure what I will trade, untill the moment the trade occurs.