Bird Watching In Lion Country
Retail Forex Trading Explained…
A few year ago, Dirk du Toit wrote this book.
Below are some of his ideas, as i can remember them. I hope this will help you to understand better the forex exchange market.
he has a personal trading system, 4×1 and median system.
it’s very important to understand probability.
trading is not a spectator game.
don’t forget that, we traders, are the market
the forex market is a game, a game of chess…
stop further losses
in currency trading, you live in real time, or you don’t live at all.
he believes that you must never forget that in the end forex is only a business where you must have profit.
don’t underestimate your common sense.
don’t use a very high leverage.
Forex exchange market is not a common exchange market.
Basic Tenets
- The averages discounts everything
- The market has three trends
- The averages must confirm each other
- Volume must confirm the trend
Volume should expand or increase in the direction of the major trend.Dow considered volume a secondary indicator. He based his actual buy and sell signals entirely on closing prices.