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Okay folks.
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Welcome back.
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This is lesson 7.20 the January,
2017 content using limit entry
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techniques for long-term traders.
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Okay.
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We're looking at buying with a limit order
and much like we used for the bystander.
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The monthly and or weekly should suggest
institutional order flow will be seeking
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APD array above daily market price.
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The daily should post a bearish candle.
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The daily chart must close the
candle with a down close and it
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is not valid while the daily chart
candle is treating and or forming.
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And the buy limit is going to
be placed at the bears candles
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close as the daily candle.
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So we're looking at the daily.
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The daily, low, the daily open and
the daily clothes we're gonna be
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looking to enter a buy limit order
at the close of the daily candle.
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That's a gallon close.
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Wow.
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The market is bullish and
we're expecting it higher.
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Move in the asset class we're trading.
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What you're going to be seeing
is that the markets are already
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going to be undervalued in already
primarily bullish market condition.
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Preferably this is going to be
useful to you when the market's
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already shown a willingness to
have a market structure break, it's
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already started to move higher.
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It's already starting to move higher.
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So therefore prices are really underway.
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Um, there's going to be opportunities.
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When we start talking about swing
trading, we can utilize the information
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in that module to help get better
fills on the longterm entries,
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closer to the turning points.
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But for this module, really we're focusing
on how you don't necessarily need the.
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Turning points at the top or the
bottoms you just need to meet in
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between and be a long-term trader still.
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And it capitalized on a lot of pips and
a lot of points that if you, uh, if you
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do these types of trades, it takes a
long time for them to come to fruition
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and long time for them to set up and.
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When we use a buy limit
entry at the close.
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What we're doing is this the
very next day or the next candle?
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When it opens up, we're expecting
price movement to move below
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that down candles close.
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What we're actually doing is we're
buying at a deeply undervalued price.
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It's already going to be oversold
without requiring any indicators.
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But we're going to be buying at a
deep, deep discount when the market is
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predisposed to move hired, you're going
to see in our examples, how it nails down
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extremely, extremely awesome entry points.
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I mean, they're so deep in discount and
you get quick, immediate feedback, even
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on a daily basis that you're on the right
side of the marketplace and you start
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seeing profitability almost immediately.
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Okay.
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Selling with limit orders.
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Just like we had with the cell stops,
the monthly and or weekly should
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suggest institutional order flow.
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We'll be seeking PDL raise below
daily market price to daily
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should post a bullish candle.
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And the daily chart must close
the candle with a up-close.
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It is not valid while the daily chart
candle is trading and or forming,
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and the sell limit is going to be
placed at the bullish candles close.
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So this candle again,
representing our daily.
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Up close.
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Is this the daily high, the daily low, the
close, any open for that particular day?
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And we're gonna be looking to
have a sell limit order right
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there at the candles close.
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And what we're doing is essentially
we're selling short in an overvalued
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or overbought condition in a market
that's predisposed to go lower
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based on monthly and or weekly.
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PD IRAs that will draw price lower.
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So institutional order flow should
draw prices lower on the daily,
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but we're getting this up movement
against what longer-term institutional
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order flow is suggesting again
on monthly and or weekly chart.
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So while prices moving higher for this
particular day, what we're doing is
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there's going to be looking to sell
short at the next day, but it has to
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be above this particular candles close.
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Now, again, we're not just selling.
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When I want to own any up candle, if we
have an opinion about being embarrassed,
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these conditions are best suited
when we align them with a daily rang.
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In other words, if there's a bear shoulder
block, if there's a gap that it's traded
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into, if it's filled in a void, if
it's traded above a recent high, okay.
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Or it's retrade tacked
into an old historical low.
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Support broken analysis resistance.
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There's like those types of ideas.
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We're not just indiscriminately going out
and finding up candles and damn candles.
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I should've mentioned this as well
when we talked about the stop orders,
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but you're not just simply going in
based on the candle itself by itself.
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It's not a be all end all.
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And, uh, you know, a system in and
of itself, you have to blend the
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PD rate on the daily chart as well.
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So by blending these things together
with the higher timeframe, monthly and
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weekly, Pulling price one side or the
other bullish or bearish respective on
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those higher timeframe charts when we had
those conditions also in opposite terms.
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So basically what I'm saying is on a
monthly and weekly, if you're expecting
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lower prices or, um, bare PD raise, that
should draw price down to a discount.
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What you're expecting to see on a daily
is up movement to go to a short term.
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Premium when that occurs, then you have
really, really low risk, high probability
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entry patterns at your disposal.
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And this is one of the most amazing ones
you're going to see by selling short
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on a limit above that candle's closed.
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What you're doing is
essentially getting that last.
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Piece of market movement above
getting you that last little surge.
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And many times when we look at day
trades, you're going to see the desk
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many times what you'll see as the
Judas swing, it'll open, make the
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high in London and then sell off.
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And then it'll be the beginning
of a long long-term move in
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that particular pair or asset.
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Okay.
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I'm going to go back to that Japanese yen
example, and we're going to use this idea.
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And you can see, we
have, um, the downcast.
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And using the clothes as our
limit order to be a buyer.
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You see how that transpires here,
each down candles close the next
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day, it trades down below it.
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You would be filled only limit going
long and look at the responsiveness
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of price immediately after that.
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There's 1, 2, 3, 4, 5 examples
here on this daily timeframe.
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And while it probably doesn't look
exciting here, probably doesn't feel
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like, you know, it's that big of a.
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I can assure you when we get into
two slides from now, you'll see just
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how much of an importance this is.
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But again, what we're looking
at is the weekly chart here.
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You can see how price was
moving away from that 100 level.
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And there was a bearish order block
up around that 1 18 1 19 level.
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And that was the weekly premium
PD array that would draw price
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up to that level long longterm.
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And we saw a bullet shorter block
down in the discount level at 100.
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So you can call the willingness
to want to bounce off that level.
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And we go back down into a daily chart
here you can see in November during
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the post election rally of Donald
Trump's election in the us, a price
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stabbed, one more time down into
that weekly bullish, shorter block.
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Uh, prior to that November
dip, we saw a September.
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Rally away from a previous order
block that was formed in August, 2016.
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Uh, September we saw retrade
back down into it and using the
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down candle the very next day.
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It did trade down below the
close giving an amazing fill.
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Now, what you're seeing here is these
lines that are drawn right up from the
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down candle up into that red shaded area.
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That's that weekly PD array
or bear shorter block.
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What that means is this price should be
drawn up to that level in the weekly.
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And from the load, it was foreign
in September buying on a limit below
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the daily candles close from that
point all the way out to the weekly
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PD array or bare shorter block, it's
1800 pips for that particular low.
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The next one comes in around
November 17th or thereabouts.
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And you can see that, that.
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Limit order below the daily close
would have been filled as well.
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And from that point up to the weekly,
weekly PD array up at the weekly
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bare shoulder block was 980 pips.
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And then the next down could close on
this daily chart here, again, using
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the close of that down candle as a
buy limit order entry point, that
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next candle puts you in a position
where it would have been 785 pips.
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The next day I'm candle again, uh,
comes in with a 600 pit rally and
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another one comes in at 500 pips.
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And the last one right before
it gets to D weekly PD array,
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given a 360 PIP price move.
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And again, buying below the
candles, close on a limit.
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You're buying that real deep suppress.
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Um, undervalued market and it's
an, a DDD discount and it will
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look to seek to move to a premium.
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And it's an amazing thing.
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When you go through your charts and
you look at this and start studying it.
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And again, what we're looking
at is daily timeframes.
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It's not that we're looking at, uh,
you hourly charge or 15 minute charts,
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and a lot of folks assume just because
we're on these hard timeframe charts.
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There's not a lot of opportunities.
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There isn't as many as you would see
in terms of day trades or scalps?
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No, I would quickly agree with that,
but there are plenty of opportunities
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when you're in these long-term trends
and you have a real clear indication.
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It wants to move higher to
a monthly or weekly level.
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There's many opportunities you can
get in there and get positioned
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and not have to get the high.
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And you can see here that move from
the 980 PIP move as essentially the
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equilibrium price bar just below it.
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And even above the equilibrium price
point, there was many opportunities.
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Where you could have got several
hundred pips and whether you are
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a day trader scalp or whatever, I
mean, those types of numbers are just
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simply not something to scoff at.
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They're very respectable numbers.
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So my question to you in closing
is, is do you still think you need
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intraday trading to make this.
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Hopefully after this teaching,
you'll quickly come to the
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conclusion that you do not need that.
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So folks that felt that I'm only teaching
day trading and short-term trading things.
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This is the type of trading that you
can find opportunities with still
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maintain risk relatively low, and
still find a payable framework for
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your trading, the ideas to pan out.
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And this is just one.
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And one focus on a PD RA on
a weekly and monthly basis.
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And until next time I wish you
good luck and good trading.
16711
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