Trend Follower

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Monday, November 8, 2010

The Dow broke above its April high of 11200, signaling a primary advance. The long term target is 12000 . Rising strongly indicates buying pressure. Expect retracement, however, to test the new support level in the medium term.

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Tracer's Trading Rules

1. No Set up, No Trade

2. Plan your stops before entering a trade

3. Let you profits run

4. Never argue with the tape

5. As soon as your price move in your favor, increase you stops.

6. Always be on the look-out for danger signals.

7. In a losing streak, take a vacation.

8. In a winning streak, add more.

9. 3 rules you must always follow, 1. cut-losses, 2. cut losses and rule number 3. cut losses.

10. I do not have targets.

11. Keep Learning. The market is constantly changing. No strategy works forever.

By following these rules, you have limited risk and unlimited profit potential.

Monday, November 8, 2010

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