{"id":1785,"date":"2009-11-29T10:29:04","date_gmt":"2009-11-29T14:29:04","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=1785"},"modified":"2009-11-29T10:29:20","modified_gmt":"2009-11-29T14:29:20","slug":"an-objective-method-of-trading-in-any-market-and-any-time-frame","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2009\/11\/an-objective-method-of-trading-in-any-market-and-any-time-frame\/","title":{"rendered":"An objective method of trading in any market and any time frame"},"content":{"rendered":"<p><a href=\"http:\/\/club.ino.com\/trading\/category\/guest-bloggers\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" style=\"vertical-align: top;\" src=\"\/img\/sites\/ino\/email\/2466.jpg\" alt=\"\" width=\"200\" height=\"150\" \/><\/a>Today I'd like to welcome Lawrence Korbus, Chief Forex Educator and Professional Trader at <a href=\"http:\/\/broadcast.ino.com\/redirect\/?linkid=1148\" target=\"_blank\">Tsunami-Trade.com<\/a> to the Trader's Blog! Today Lawrence teaches us a little about how he enters trades and analyzes the markets. Please enjoy the article below, comment to Lawrence with your thoughts and insights, and check out <a href=\"http:\/\/broadcast.ino.com\/redirect\/?linkid=1148\" target=\"_blank\">Tsunami-Trade.com<\/a> to see what he does!<\/p>\n<p>===================================================================<br \/>\nI was sitting as an invited \u201cexpert trader\u201d on a panel with 4 other traders at the 2009 Las Vegas TradersExpo last week.\u00a0 They called the standing room only panel discussion: \u201cSuccessful Strategies for Profiting from Forex Trading.\u201d<\/p>\n<p>They asked the question of all of us, \u201cHow do you make money trading the Forex markets?\u201d\u00a0 The panelists said some things about using their decades of experience to get a \u201cfeel for the market\u201d, and then they each in turn cited several different methodologies such as trading breakouts, and using proprietary sentiment and Elliott Wave analysis to come up with \u201can area to trade\u201d.\u00a0 They were not more specific than that on how they entered trades.\u00a0 Although they all differed in how they entered trades, what I found most interesting that they all had one thing in common.\u00a0 They all said that they would scale out of the trade as the trade hopefully went in their direction.<br \/>\n<!--more--><\/p>\n<p>I have found that a very important component of my success is that I fit my trading strategy to my personality.\u00a0 Although I admire those who say they can pick the perfect top and bottom of a trend a trader has to know his limitations!\u00a0 Scaling out of a trade has also never been my cup of tea as all the analysis in the world really just boils down to nothing more than an educated guess on where a trend move might end.\u00a0 The problem with educated guesses is half of the time they are wrong!\u00a0 Since they can be wrong up to half of the time that breeds stress and uncertainty and is no way to pay the bills!<\/p>\n<p>But is there an objective way to enter a trade and to know with a high degree of certainty where it will go?\u00a0 Here is one way to go about it.\u00a0 If you see a trend move occurring, measure it!\u00a0 What I do is I measure from the very top of a move to the very bottom of a move.\u00a0 When the retracement occurs, I draw a trendline along the bottoms of the retracement bars.\u00a0 I will enter when I see a bar closing below the trendline I just drew, and then I can measure where it will often times go!\u00a0 It turns out that the market is such that it will always seek symmetry.\u00a0 That is a 100 pip down move in the currency pairs tends to predict another 100 pip move down from the retracement high.\u00a0 That is a move from A to B, predicts a move from C to D.<\/p>\n<p><a href=\"http:\/\/quotes.ino.com\/img\/sites\/ino\/email\/2517.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"\/img\/sites\/ino\/email\/2517.jpg\" alt=\"\" width=\"600\" height=\"600\" \/><\/a><\/p>\n<p>Now am I just predicting the tops and bottoms of a move just like the others?\u00a0 Not exactly \u2013 it\u2019s just nice to know where the road is heading before you go on a cross-country road trip.\u00a0 Fibonacci can help predict where the market will get to along the way and I use the .382 and .618 extensions of the first move from A to B.\u00a0 (That means I am multiplying the amount of the move from A to B by .382 or .618, and subtracting that amount of pips from the high at C to predict where the market will go and where I will exit the trade with the sure money!) It is obviously much easier to reach the .382 or .618 level from C than it is to reach all the way down to point D!\u00a0 That sits well with my personality of wanting to take the high percentage of sure winners in my daily trading.\u00a0 But how can you reenter and get more of the trend move?\u00a0 Well just rinse and repeat!<\/p>\n<p><a href=\"http:\/\/quotes.ino.com\/img\/sites\/ino\/email\/2518.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"\/img\/sites\/ino\/email\/2518.jpg\" alt=\"\" width=\"600\" height=\"600\" \/><\/a><\/p>\n<p>In the first chart, I entered short at the first red arrow and exited at either the .382 or.618 level.\u00a0 Shortly after exiting at these levels, there was another retracement!\u00a0 I can draw another trendline (2nd chart) wait for a new entry into the market, and measure where I will exit again at the .318 or .618 extensions of the last move.<\/p>\n<p>Although I have now graduated to a newer, automated and more profitable method of trading, this method I just shared with you is valid in any market and any time frame!\u00a0 Try it on your own charts (hopefully MarketClub) and see for yourself.<\/p>\n<p>Lawrence Korbus<br \/>\nChief Forex Educator and Professional Trader<\/p>\n<p>For more information about me and how I trade professionally, check out the <a href=\"http:\/\/broadcast.ino.com\/redirect\/?linkid=1148\" target=\"_blank\">Tsunami page<\/a>.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Today I'd like to welcome Lawrence Korbus, Chief Forex Educator and Professional Trader at Tsunami-Trade.com to the Trader's Blog! Today Lawrence teaches us a little about how he enters trades and analyzes the markets. Please enjoy the article below, comment to Lawrence with your thoughts and insights, and check out Tsunami-Trade.com to see what he [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2729,2727,2731,2730,2728,2726],"class_list":["post-1785","post","type-post","status-publish","format-standard","hentry","category-general","tag-how-to-enter-a-forex-trade","tag-lawrence-korbus","tag-measuring-the-markets","tag-predicting-the-forex-market","tag-successful-strategies-for-profiting-from-forex-trading","tag-tsunami-tradecom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>An objective method of trading in any market and any time frame - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2009\/11\/an-objective-method-of-trading-in-any-market-and-any-time-frame\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An objective method of trading in any market and any time frame - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Today I&#039;d like to welcome Lawrence Korbus, Chief Forex Educator and Professional Trader at Tsunami-Trade.com to the Trader&#039;s Blog! 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