I am reading this book "How to make money intraday trading by Ashwani Gujral". These are one of the important lines from him.
1. Never judge a candle before it closes.
2. A clear prior trend is important for a meaningful reversal.
3. Higher the time frame, higher the accuracy and reliability.
4. Use sufficient filters before a trade commitment; choose only the best trading opportunities.
5. Look for confirmation of a candle signal before making a trade commitment.
6. The location of the candle is extremely important and must be looked at carefully.
7. Pattern timing is crucial; choose high probability timings for better success.
8. Nothing is accomplished in a single candle — it usually takes 3, 5 or 8 candles.
9. Newer trends are more profitable to trade than the more matured ones.
10. Trades with the trend are superior to trading counter trend moves.
11. Volume support makes a big difference, it must be checked.
12. Never forget the 50% retracement rule; the retracement must stay within the 50% limit for
the trend to continue for longer.
Let me know when I don't follow this trend.
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