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Author: tradingsossos
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Following is an excerpt from the book “Technical Analysis of Stock Trends” written by Robert D. Edwards and John Magee:
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Trading breakthroughs can come at any time. More often than not they are the result of positive actions that’s taken consistently through all the ups and downs (especially the downs) that comes with trading.
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If you are a discretionary trader like me, there is always the possibility to deviate from your strategy. Some of those deviations might be small and they might be “forgiven” because they are still within the boundaries of your trading strategy. Other times you will deviate entirely from your strategy. Ultimately those deviations, whether big or small, can cost you.