If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple. If you like this article, Larry’s also agreed to give you free access to his favorite technique.
On the Trader's Blog you've heard us talk plenty about how to simplify your trading. As a matter of fact, you've heard Adam preach about keeping it simple over the years. Today we've asked Bill Poulos from Profit's Run to share with us how he keeps his trading method simple by using a simple indicator that we could all benefit from. To find out more about Bill Poulos visit his website here.
One of the problems that many traders run into is trying to find the perfect combination of indicators that will lead them to the perfect trading method. Not only is this a problem for new traders but we find that many experienced traders continue to over complicate their charts with too many indicators. They often think that the more indicators they can get on the chart the more successful they will be. This is usually not the case and only leads to more confusion on the part of our entries. The concept of keeping things simple works especially well when applying it to our trading strategies. The key for many trading methods is to simply know the trend of the pair and then know when to buy or sell that pair.