Chart reading is not a trading system – it’s a foundation to learning how to test various conditions to develop your own set of trading rules that include Entries, Exits, and position sizes.
All of these must be simulated so you can learn what the expected value of a trade is.
David Sklansky writes good books on poker and betting. “Getting the Best of It” is one of his best.
A great source to learn learning chart reading is Brian Shannon of AlphaTrends.
He can be found at @alphatrends on Twitter and StockTwits.
Trading is hard and expensive. Good teachers and simulators have a comma in the price.
Backtesting has to be done at the portfolio level, not by testing a single security, one at a time.
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