The channel on a 4-hour chart may be different from that on another time period.
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My interpretation of the Dow theory above is very brief as it is beyond this book to delve to deeply into any one particular subject.
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Exiting a Losing Trade The stop loss means that if a security trades a certain amount below or above where you entered the market an order is executed to close your position.
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The probability of the coin landing heads or tails is exactly 50%.
Think of it like this, when you buy something you now own it.
This is how I approach the market but at the same time I am aware of any big announcements that may be coming out.