Dear czar,
thanks for sharing...i am ever curious about others strategies and hence was a bit curious with nj's strategies as well,...
i hope you understand.
thanks again
there are two common strategies which all follow:
1. Observe charts to understand & trade with levels
2. Realise the trend; if in uptrend, look to buy at/near lower support levels ; if in downtrend, look to sell at/near higher resistance levels...
But,
never ever try to catch a missed bus by entering after a steep rise (by entering long) or after a steep fall (by entering shorts).. these are traps. Be patient and wait for step 2.
Also, decide your timeframe before entering a trade - this will help you identify your SL and profit-booking level (part or full, depends personally)