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Channel Trading In Practice

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It has been a busy last few weeks getting things up and running here again. I have enjoyed rambling on about a few different trading techniques that I think are simple enough for all traders to learn. Hopefully you have enjoyed reading some of it also. I am of course not preaching anything new, perhaps the odd twist here or there, but essentially it is tried and tested techniques with a dash of lime.

Hang on is that Ryan or Soap ... oh it is so hard to tell sometimes.

In the world of the squiggly line, it can be at times hard to find traders under the age of 60 who still trade indicator free. Someone I enjoy reading is Ryan O’keefe, a trendline/price action/support and resistance trader with a programming background. We have similar backgrounds in that respect and it is ironic we both approach trading from roughly the same area.

Just to clarify, I don’t know Ryan from a bar of soap, actually chances are I would spot the difference, but if you enjoy what you read here, you may enjoy what you read there.

I mention his blog, not for promotion (I’ll take a 40% cut thanks Ryan if you are reading), but to mention one of his articles that highlights the power of trading with channels which I wrote about recently. My article set out the very basics of what you can use them for, but Ryan shows nicely in this post on a profitable trade he took on the dollar yen just before the drop over the past few months. You can read his post here.

I will let him describe the process of his trade on his blog,but it highlights what I could only mention briefly in the article. Trading channels, and their perpendiculars with the long term view in mind can provide some excellent signals.

Written by Akuma99

November 3rd, 2008 at 9:15 pm

Viewed by 289 sets of eyes

Posted in Blogs, Technical Analysis

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DISCLAIMER: This post is written for educational purposes only. None of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument. Trading and Investing involves high levels of risk. Beginnertrader expresses personal opinions and will not assume any responsibility for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this post. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results. Reprints allowed for private reading only, for all else, please obtain permission.
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