Welcome to another issue of Traderwave Weekly, a trading newsletter where I curate the most useful trading articles on the internet to share with you.
Hope you will enjoy all these fabulous reads and apply those knowledge along your journey to become a proficient and profitable trader!
Breakout trading strategy is one of the best methodology to maximise potential returns in the shortest time possible.
This is because breakout trades are usually momentum trades, which means a trader is trying to get on board just when the move is starting to take off.
If executed well and timed correctly, a trader will see his trade working out immediately.
However, there are some key points to take note of when executing a breakout trading strategy.
In this article, the author will share with you a few recommended things to look out when planning for and executing a breakout trade.
TRADING BEST PRACTICES
Many new traders enter the trading arena with the hope of finding that holy grail that can guide them to enter into profitable trades with near certainty.
However, the reality is that the market do not work that way.
Ultimately, trading is a game of probabilities.
There are no certainties or guarantees, particularly about the future direction of the market.
When a trader tries to predict the market’s next move, he tends to make some decision that might be detrimental to his trading account.
If you wish to learn how to avoid making these mistakes and learn some structured ways to protect yourself, click on the link to read the article right now!
WORDS OF WISDOM
William J. O’Neil is a legendary trader that any established trader would have heard of him or read his book before.
Over a 25 years trading period, he was able to achieve a return of 5000%.
Being a very well-rounded trader, he uses fundamental analysis, technical analysis, risk management and timing extensively in his trading strategy.
He subsequently named his trading methodology CANSLIM.
Over the years, he shared many of his trading wisdom in both interviews and in books.
In this article, the author compiled 23 of William’s classic trading rules.
Read them now to refresh your idea on trading best practices.
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