How to Make Money With Breakout Trading
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Do you know every trader (be it intraday, swing, positional, or scalper) should know how to differentiate a genuine breakout and a false breakout?
Do you know why?
Because every ‘Entry’ and ‘Exit’ in any trade should come through a breakout or false breakout opportunity!
It’s important to understand two herds that exist in the market:
1. Smart Money and
2. Dumb Money
‘Smart Money’ refers to institutional investors, big sharks who have money and information power who give direction and momentum to markets.
‘Dumb Money’ refers to nonprofessional traders, retail traders who often try to make quick money.
Do you agree that it’s always a good idea to follow smart money?
Then you have to learn the right way of identifying real breakouts.
This Breakout Trading System consists of three critical components:
1. Drawing Proper Trend Lines
2. Identification of Real Breakout
3. Trade ExecutionUseful references to draw a trend line:
a. Price Peaks
b. The Slope of the Trend Line
c. The price should respect the Trend Line
The four things mentioned below are essential to separate a real breakout from fake ones:
1. A Big Breakout Candle
2. Quick Time
3. Absence of Opposite Party Response (selling)
4. Good Volume
Along with these concepts, this book also answers the below questions:
1. Why Even Smart People Fall for Market Conditions
2. How to Take Your Exit To the Next Level
3. The Untold Story About Trail SL
It also provides 10 great lessons on trading, 25 excellent traders’ information on Twitter.
About the Author:
Indrazith Shantharaj is a full-time trader and author of many best-selling books. He uses Market Profile concepts, Price Action Trading concepts with tailor-made systems for the Indian market conditions.
He is a former IT professional and has over ten years of experience in the stock market. Apart from trading, he spends his free time on travel and adventure. He also extensively believes in using the power of the MIND and is a practicing spiritual sadhana.
- Language : English
- ISBN-10 : 935419687X
- ISBN-13 : 978-9354196874
- Author : Indrazith Shantharaj
- Item Weight : 90 g