Stay patient and disciplined when trading with pivot points from "summary" of Secrets of a Pivot Boss by Franklin O. Ochoa
It is crucial to exercise patience and discipline when trading with pivot points. This is because pivot points are not a guaranteed prediction of market movements; they are merely potential levels of support and resistance. Therefore, it is essential to wait for confirmation before making a trading decision based on pivot points. Patience is required to allow the market to show its hand and confirm whether a pivot point will hold as a level of support or resistance. Rushing ...
Similar Posts
Don't follow the crowd when investing
In the world of investing, it is often tempting to follow the crowd. Many investors base their decisions on what others are doi...
Identify undervalued markets for investment opportunities
Identifying undervalued markets for potential investment opportunities is a critical aspect of successful investing. It require...
Monitor your investments regularly
The key to successful investing is to keep an eye on your investments. You can't just buy a few stocks or mutual funds and forg...
Automate your savings and investments for consistency
One of the key principles that I emphasize is the importance of setting up automatic systems for your savings and investments. ...
Embrace market efficiency
To succeed in the investment business, we must embrace market efficiency. This concept is at the core of smart investing. Marke...
Focus on longterm value creation
The key principle to successful investing is to focus on long-term value creation. This means looking beyond short-term fluctua...
Monitor your investments regularly
Regularly monitoring your investments is a crucial aspect of achieving success in the stock market. By keeping a close eye on y...
Collaborate with other traders to gain insights and knowledge
One of the most effective ways to improve your trading skills is to work together with other traders in the market. By collabor...
Risk management is key to longterm success
Risk management plays a crucial role in determining the success of an investor or trader in the stock market over the long term...
Avoiding debt is essential for financial security
One of the most fundamental principles of achieving financial security is steering clear of debt. While debt can sometimes be n...
