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Jay Norris
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Jay Norris is a 20-year CBOT floor veteran, author of the Best Seller "The Secret to Trading Forex, Futures, and ETFs: Risk Tolerance Threshold Theory", "Mastering the Currency Market", McGraw-Hill, 2009, and "Mastering Trade Selection and Management", McGraw-Hill,... More
My company:
Trading University
My blog:
Seeking Alpha
My book:
The Secret to Trading Forex, Futures, and ETF's: Risk Tolerance Threshold
  • Another Trading Secret 0 comments
    Apr 26, 2013 10:45 AM

    The one constant on the #trading floor is that traders are always looking to buy dips - bearish retracements -- in uptrends and sell rallies - bullish retracements -- in downtrends. The secret to the timing of this is look for steeper retracements in counter-trending markets, and more shallow retracements in trending markets. Therefore we use higher time frame charts in counter-trending markets and lower time frame charts - even down and dirty tick charts - in trending markets. Despite this not being widely known, it is intuitive.

    And price movement is never predetermined to the degree most think; shift with the market or lose.

    Jay Norris is the author of the best-selling: The Secret to Trading: Risk Tolerance Threshold Theory.

    Trading involves risk of loss and is not suitable for all investors.

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