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Buying at the right price

QuestionsCategory: QuestionsBuying at the right price
jester asked 2 years ago
HI Pat,   I hope you are fine and thank you for giving me the opportunity to ask questions of which I have 2. I have joint Mission Winners recently and still trying to find my away around. Firsrtly, would it be possible to point me towards a manual or create one so that I can have it on my desk. I struggle to buy at the right price which leads me to the next question. You always state that price above the line is good and below the line is bad and that you would never let a trade go against you. This seems a bit simplistic to me, because  a) I would always buy above the line, if the breakout happens at the open I would have to wait at least 10 min to 30 min and if the breakout hits later I would need to wait 30 min to 1 hour. By the time I buy price is above the line. False breakouts happen most of the time so I will always (provided it is not a false BO) have a loss from the time I buy to at least the white line. b) by the time I see good volume on the day, the day is gone. By the time I see good volume on the first 10/30 minutes prices usually moved substantially above the white line and of course I cannot buy blindly on the white line either as this means getting whipsawed to pieces. c) you always state clean breakouts......but these are exactly the locations big guys are waiting to prey on new traders. When you draw your white line with for instance 3 touch points this means that price went there min. 3 times trapping traders. Maybe I am missing something completely hence my request for a manual. I like and appreciate all your passion to help. Help me Obi Pat Kenobi, you are my only hope :-)    Regards   Marco
1 Answers
Avatar photoOwen Staff answered 2 years ago

Hi Marco,
Pat made this video for you...