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Types of Trades



There are only two types of trades
  • Winning trades.

  • Trades where you pay for information.
does that mean that you shouldn't pay for information?
No, it means that if you lose, look at it like you paid for information that you can use, either in the next trade (you paid for information about the current market, like a poker player sometimes pays just to see the opponents cards for the info that gives them), or in your learning experience. Right, DT?
That is correct.
But there is no logic to pay for lossing trades
I think what they are saying is...if you have a losing trade, view
it as if you had paid someone that same money to teach you..

It's like on the job training


Learn from winning trades and losing trades
There are four type of trades

1. Breakout/Breakdown
2. Retracements
3. Reversals
4. Rangebound Fades

Click image for original size
This simple chart I created helps illustrate these basic concepts:
I like breakout/breakeven the most... don't get much much adrenalin that that, though retracements are interesting too.
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