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Are you aware that every trader, regardless of whether they’re focused on intraday, swing, positional, or scalping trades, needs to be able to distinguish between a genuine breakout and a false one? The reason is simple: every ‘Entry’ and ‘Exit’ in a trade hinges on a breakout or false breakout opportunity! The market is divided into two distinct groups: 1. Smart Money and 2. Dumb Money. ‘Smart Money’ refers to savvy institutional investors, the big players who leverage their financial clout and superior information to guide market trends. ‘Dumb Money’, on the other hand, refers to amateur traders or retail traders who typically chase quick, often illusory profits. Wouldn’t you agree it’s wiser to follow the lead of the ‘Smart Money’? If so, you’ll need to master the art of identifying legitimate breakouts.
Our Breakout Trading System comprises three crucial components:
1. Crafting Accurate Trend Lines
2. Discerning Real Breakouts
3. Executing Trades Effectively
When drawing a trend line, keep these key factors in mind:
a. Price Peaks
b. The Trend Line’s Slope
c. The price’s adherence to the Trend Line
To separate real breakouts from false alarms, consider these four indispensable criteria:
1. A Significant Breakout Candle
2. Rapid Time Frame
3. Lack of Counteractive Response (selling)
4. Robust Volume
In addition to these key concepts, this book addresses pivotal questions such as:
1. Why Even Intelligent Individuals Misinterpret Market Conditions
2. How to Elevate Your Trading Exit Strategies
3. The Unveiled Secrets of Trail SL
Moreover, it offers ten invaluable lessons on trading, along with insights from 25 top-notch traders on Twitter.
About the Author: Indrazith Shantharaj is a full-time trader and acclaimed author of multiple best-selling books. He employs Market Profile and Price