Hello
I want you to pay attention to the levels of the trade alerts so that you may notice how, wherever we have an entry, that entry level suddenly turns into support if we are short and resistance if we are long. Even if there is no prior support or resistance in those areas. This is an effect of schooling. Schooling is when all the fish jump in the water at the same location to create what killer whales call, "A bait ball." Protecting positions intraday helps combat this.
When multiple traders enter at a particular price it;s like dumping chum ( shark bait ) into the water. This is to shake out and eliminate those who have their stops at intraday support and resistance levels.
If you are capitalized the way that I suggested when trading the daily ranges there is no need to panick. Just know that the trade alert positions will be attacked vigorously to see if you will panick.
If you are going to panick, panick while the trade is in profitable territory while protecting profits.
Right now I'm just exhausted from working on that email problem with the alerts so, I'm just going to start protecting positions intraday anyway. For now you will have to go to the mt4i site I gave you in the trade alert list on Monday and watch for any changes I may make to the pair you are following.
CHEERS, JERRY
JERRY@FOREXTRADINGMAJIC.COM
JERRYJSTEW@YAHOO.COM
