Many of today's students have seen calculus before at the high school level. However, professors report nationwide that students come into their calculus courses with weak backgrounds in algebra and trigonometry, two areas of knowledge vital to the mastery of calculus.
University Calculus: Alternate Edition responds to the needs of today's students by developing their conceptual understanding while maintaining a rigor appropriate to the calculus course. The Alternate Edition is the perfect alternative for instructors who want the same quality and quantity of exercises as Thomas' Calculus, Media Upgrade, Eleventh Edition but prefer a faster-paced presentation. University Calculus: Alternate Edition is now available with an enhanced MyMathLab t course-the ultimate homework, tutorial and study solution for today's students.
With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf available as a free download , available online and also via the iPad and Android apps. Upon purchase, you will receive via email the code and instructions on how to access this product.
Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. Co-authors Hass and Weir have made it their passion to improve the text in keeping with the shifts in both the preparation and ambitions of today's students.
Normal 0 false false false This text is designed for the single-variable component of a three-semester or four-quarter calculus course math, engineering, and science majors. Thomas' Calculus: Early Transcendentals, Single Variable, Thirteenth Edition, introduces readers to the intrinsic beauty of calculus and the power of its applications. For three-semester or four-quarter courses in Calculus for students majoring in mathematics, engineering, or science Clarity and precision Thomas' Calculus helps students reach the level of mathematical proficiency and maturity you require, but with support for students who need it through its balance of clear and intuitive explanations, current applications, and generalized concepts.
In the 14th SI Edition, new co-author Christopher Heil Georgia Institute of Technology partners with author Joel Hass to preserve what is best about Thomas' time-tested text while reconsidering every word and every piece of art with today's students in mind. MyLabTM Math not included. MyLab should only be purchased when required by an instructor.
Instructors, contact your Pearson rep for more information. Reach every student by pairing this text with MyLab Math MyLab tm is the teaching and learning platform that empowers you to reach every student.
By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student. This is the most comprehensive revision of Thomas' Calculus in 25 years. The new edition of Thomas is a return to what Thomas has always been: the book with the best exercises. For the 11th edition, the authors have added exercises cut in the 10th edition, as well as exercises and examples from the classic 5th and 6th editions.
The book's theme is that Calculus is about thinking; one cannot memorize it all. The exercises develop this theme as a pivot point between the lecture in class, and the understanding that comes with applying the ideas of Calculus.
But I couldnt deny him. He slowly pushed more of his cock in and I started to enjoy the feeling. My son had his cock up my ass, what else was left. Mother and son had done everything now. My son was fucking my ass and I loved it. My son pushed me on the bed; he leaned into me and was showering me with kisses as he fucked me. I felt his cock erupt inside my ass; my baby was cumming inside me. We fell asleep with his cock buried inside me, we took a short nap. I woke up and looked at the clock it was eleven pm.
I got up and washed up in the bathroom. We got in bed and my son got on top of me and slowly teased me with his cock, he finally entered my pussy and was slowly fucking me when the phone rang. Oh shit I forgot and my husband was calling to say goodnight. Tony didnt stop he was still inside me and slowly fucking my pussy as I talked with his dad.
I kept giving him dirty looks but he just smiled and continued fucking me. It was hard holding down a conversation with your husband as your son is fucking you. I couldnt believe as I watched him on the phone. He was talking to his dad as he fucked his mother. He handed the phone back as I heard him say okay bye dad I am going to go watch T.
He handed me the phone and started to fuck me a little faster. His cock felt so good in my pussy. Good because I am horny tonight Dave proceeded to jerk off as he spoke to me God honey I missed you, I love your pussy, pretend I am there and I am fucking you right now. Tony loved it he started to fuck me faster; he had his ear to the phone as Dave talked me through an orgasm. Every time I said it Tony started to fuck me faster.
I started to cum and I screamed OH yesssssss I am cumming arggggggggggggggghhhhhhhhh. Hmmmm Yes you loved that wouldnt you. Thats always been your fantasy hasnt it. You always wanted to watch me get fucked by another man. Maybe tomorrow. The next night my son was back in my bed and we were just waiting for Dave to call. Sure enough the phone rang and Dave was on the phone.
Youre not just saying that are you, Im serious Dave would you really want me to fuck someone else. Okay Dad I will fuck her good and hard Tony handed the phone back to me, your son is getting ready to put his cock in me.
Honey I am standing over our son admiring his hard cock. I am lowering my pussy. OH yeah I love his cock, I am riding his cock right now I am bouncing up an down on his cockOh yeah baby, fuck your mommy.. Fuck me hard. Oh Dave I can feel your son cumming inside me oh he is cumming so deep inside me honey, I can feel his cum he is cumming so much.
Tell him I am Tell him I am going to fuck you all night. Now say goodnight.. I have some fucking to do. As my son hung up the phone I knew my life would never be the same, I continued fucking him all night just as we promised his dad. Dave called me from the airport saying he would be home in a few minutes. When he walked in the front door he yelled IM home.
Dave walked in and was shocked, on the bed was his son behind me, fucking me doggie style. Dave dropped his bag Wow you two look hot. Dave took his clothes off, but he never took his eyes off his sons cock as it entered my pussy. He walked over to me and I grabbed his cock and pulled it to my mouth. How great was this, I was sucking my husbands cock while my son fucked me.
Dave heard that and started to cum I pulled his cock back into my mouth so I could capture his cum. I had my son cumming in my pussy and my husband cumming in my mouth. What else could a girl ask for? Tony came over to my face and pushed his cock in my mouth. I cleaned off his cock as he watched his dad eat his cum out of my pussy. We fucked the rest of the night till my pussy was too sore to fuck, we fell asleep me sandwiched between my two lovers.
Open navigation menu. Close suggestions Search Search. User Settings. Skip carousel. Carousel Previous. Carousel Next. What is Scribd? Uploaded by FionaChin. Document Information click to expand document information Description: An imaginary Story. Did you find this document useful? Is this content inappropriate? Report this Document. Description: An imaginary Story. Flag for inappropriate content. Download now. For Later.
Related titles. Carousel Previous Carousel Next. Jump to Page. Search inside document. As you reach SilkRoad's higher levels, you will be able to improve your skills in weapons, force and magic. As a multiplayer game, there is also a heavy social side to SilkRoad. You can actually chat to other people and exchange mail messages with them, or join a guild in order to complete high-level quests which otherwise would be too difficult. However, most players end up spending their whole time in SilkRoad grinding that is, just killing monsters as it is the easiest way to gain experience.
Concerning graphics, SilkRoad offers high-quality characters and scenarios, especially if we bear in mind that this is a completely free game. Its music is even better: a classical-style background soundtrack that adds to the atmosphere of adventure. To sum up, we could go back to the words we said at the beginning: SilkRoad Online is a good introductory game for beginners. The online game 'SilkRoad' targets the unceasingly active world other than the existing online games which the has built the entrenched world.
On the specious Silk Road, the merchants constantly moves for trading and burglars who intend to strip them of goods. In addition, there are hunters who specialize in removing such burglars. On the Silk Road which seems to be static, the hostility and secret strife in which various groups continuously engage for the benefit of their own groups inform the Silk Road world with new life. Besides, there is no fixed job in the SilkRoad world.
The player is to have an experience of ultimately free world with setting up not fixed, organically changed world. As you go through life making mistakes, you will inevitably lose things along the way—money, close relationships, personal property, you name it. But how much time do you spend holding onto those mistakes? How much time do you spend calculating your losses and wishing you had back everything you had lost?
The longer you dwell on past failures and losses, the longer you will stay captive in your current state of failure. You must let go of your past failures and focus on where you are going. Have you ever wondered why the rearview mirror is 50 times smaller than the windshield? The windshield is so much larger to help us stay focused on where we are going versus where we have been. Holding onto past wounds or losses will only stand in the way of achieving your rightful success as a trader.
Every trader loses money and makes money as they trade, but successful traders will make more money than they lose. Successful traders spend no time worrying or thinking about their losses; they stay focused on the next opportunity that is knocking. Holding onto past losses or failures creates a bitter mindset. If you come to the trading table with a bitter mindset or victim mentality, you will bring with you all your past emotional baggage that has stood in the way of you becoming successful at anything you attempted in the past.
If you want to be successful at trading, you must focus on what you have gained versus what you have lost. Are you a goal setter or a goal quitter? When you set out to do something, do you persist until you succeed or do you get discour- aged and quit along the way?
One of the most important habits to develop is the habit of finishing what you started. My son recently graduated from high school. At his graduation ceremony, the princi- pal stood up and congratulated everyone for completing 12 years of education. He also pointed out that during the last year of school, 48 percent of the students in the graduating class had dropped out. They came so close, but they did not persist until the very end. Most people in life are rainbow chasers; they set new goals almost daily.
As a result, they never move forward in any one direction. Setting goals helps you create a road map in life, outlining where you are going. Without that road map you can easily get off track without even knowing it and not know how to get back on. If you do not create goals as you learn to trade, you will not have any recog- nizable milestones of achievement.
Any great achievement will be accompanied by setbacks, but beginning with a clear goal in mind will keep you on track to reach your goals even after you hit a detour. Traders who set goals and persist until they succeed reach their pot of gold at the end of the rainbow. That does not mean you will make money percent of the time, rather, that you consistently make more money than you lose.
Persisting to achieve your realistic goals is nothing more than discipline in action. They are what I call constitution-based versus feeling-based. Successful people have strong convictions. They are very clear about their personal constitution and their purpose in life.
They have their priorities in check and have the right perspective and attitude when it comes to facing the internal battle between the two wolves that exists in all of us. Your personal constitution will mirror your trading results. You have an obligation to your personal future, happiness, health, family, and income to establish a solid personal constitution.
Developing a solid personal and trading constitution is the first step of your journey toward successful trading on Forex. I started this book on trading by pointing out the importance of creating an emotional and psychological constitution before teaching you any technical skills. What good does it do to teach you technical skills if you do not have the courage to execute them?
Why teach you trading rules if you are a rule breaker? There is no point to teaching you how to take advantage of new trading opportunities if you cannot let go of your past mistakes and failures. Developing a solid personal and trading constitution will be the first step of your journey toward finding your rightful pot of gold in trading.
I look forward to accompanying you on your journey to the end of your trading rainbow. Let our journey begin…. I was working out of our office in Sydney, preparing for a class, when I was e-mailed the list of attendees.
The registrar told me there were 26 Australians signed up for the class and one Scotsman, named Ian, who had a very strong Scottish accent. The next morning I started class the way I always do, asking everyone their names, their current occupations, why they want to learn trading on the Forex, and, more importantly, why they chose to get involved with my company, Market Traders Institute, versus another.
We started going around the room introducing ourselves and eventually came to Ian. Ian was an older fellow, perhaps in his late fifties, and in great physical shape. I just happened to be here in Australia for a bit when your advertisements caught my interest. I called your office and they told me all about you, so I came here because I was told you could teach me how to trade on the Forex and make money. Is that true? Now pay attention to the question. Can you teach me how to trade on the Forex and make money?
Do you know what that is? I will kill you. The best way to learn something and remember it is to teach it to some- one else, so after I teach a concept for about 45 minutes, I instruct the class to teach each other. I have the person on the right teach the concept to the person on their left, and after they are done I have the person on the left teach the concept to the person on their right.
Little did I realize this teaching technique would potentially save my life. When I divided the class into pairs that day, I believe God protected me by having an odd number of students. Looking back, I must say that was one of the most detailed, and perhaps one of the best, classes I have ever given.
I am happy to report that both Ian and I are still alive. In fact, Ian is now an active client of ours and has taught me a lot in return. Two of the greatest things he taught me were how to perform under pressure and, more importantly, how to keep things simple with respect to teaching Forex trading. For example, at one point, Ian could only recognize and understand uptrends. They have to move in opposite directions to keep the world economy in balance. He keeps his trading simple.
But the Bretton- Woods Accord of , which was established to stabilize the global econ- omy after World War II, is generally accepted as the original beginning of the foreign exchange market. Currencies from around the world were fixed to the U. All currencies were allowed to fluctuate around that value but only within a narrow trading range. In , the accord finally failed, however, it did manage to stabi- lize major economies of the world, including those of America, Europe, and Asia. All other weaker economic currencies are then fixed against the USD and allowed to fluctuate, or float, no more than 1 percent on either side of the fixed rate.
If the fixed rate moved more than 1 percent, the central bank of that country was required to intervene in the market until the exchange rate was brought back to within the 1 percent band. The Smithsonian Agreement and the European Joint Float agreement were similar to the Bretton-Woods Accord but allowed a greater range of fluctuation in the currency values and widened the band in which curren- cies were allowed to trade.
The Smithsonian Agreement was just a modification of the Bretton- Woods Accord, with allowances for greater fluctuation, whereas the European Agreement aimed to reduce the dependence of European currencies on the U. The free-floating system managed to continue for several years after the mandate, yet many countries with weaker currency values incurred major economic devaluation against certain countries that had stronger currency values.
But by , it was clear that this European Monetary System had failed. Shortly thereafter, retail currency trading opportunities as we know them today started to be enjoyed by smaller investors willing to take similar risks as that of banks and large financial institutions.
The devaluation of currencies continued in the Asian currency markets, and confidence in trading the open Asian Forex markets began to fail. However, countries with stable currencies, and the concept of trading currencies, remained unchanged. The establishment of the European Union in gave birth to the euro seven years later in The euro was the first single currency used as legal tender for the member states of the European Union and became the first currency to rival the historical leaders—the United States, Great Britain, and Japan—in the foreign exchange market by providing financial stability that Europe and the Forex market had long desired.
Forex is an acronym for foreign exchange, a market where people exchange the currency of one country for the currency of another in order to do busi- ness internationally.
Typical situations in which such currency exchange is necessary include payments of import and export purchases and the sale of goods or services between countries.
Forex is also called the cash market or spot interbank market. The spot market means trading on-the-spot, at what- ever the price is at that moment. Prior to , the Forex retail interbank market for small individual speculative investors or traders was not available. A speculative investor, or speculative trader, is one who looks to make a profit on price movement in the market and is not looking to hold onto any currency long-term. Then in the late s, retail market maker brokers companies that facilitate the trades for speculative traders were allowed to break up the large interbank units and offered individual traders the opportunity to participate in the Forex market as we know it today.
The term market refers to a place where buyers and sellers are brought together to execute trading transactions. Forex trades nearly four times that volume daily, exceeding the daily combined activity of all the other financial markets. Forex has no physical location—transactions are placed via the Inter- net or telephone—but is composed of approximately 4, international world banks and retail brokers. Individual traders wanting to profit by speculating on price changes can only access this market through a Forex broker, such as I-TradeFX.
It is a good practice of a speculative trader to only deal with Forex brokers that are regulated by the governmental bodies in their respective countries. That is the main difference between trading currencies and stock trading—you always have to deal with two instruments, or currency pairs, whereas in stock trading you only deal with one instrument.
The definition of a currency pair, or currency cross, is trading one currency for another currency, and you need a currency pair to execute a trade on the Forex. Speculative currency trading, just like speculative stock trading, involves exchanging one currency for another in anticipation of a price change in your favor.
There are two types of traders on the Forex: consumer traders and spec- ulative traders. A consumer trader wants long-term ownership and is not as concerned with daily price movements, whereas a speculative trader is only concerned with daily price movement, as that is where the profit potential is.
Speculative traders are also called scalpers—they are trying to scalp a profit in a small price movement. Long-term position traders enter the mar- ket and stay in for a week, a month, or years. Short-term, or day traders, will enter the market for 5 minutes, 30 minutes, or even 4 hours, and then exit, but they are usually in and out within a hour period.
Although brokers will assure you that Forex trading is commission- free, it is important that you understand there still are costs involved. The spread is the difference between the buy price and the sell price of a specific currency. Envision attending an auction where there are several buyers for a partic- ular item.
As bidding gets closer to the asking price, the spread tightens up. There are spreads between all currency pairs that are traded, and they average 3 to 6 price interest points, or pips, on the major world currencies which are considered to be the U.
Currencies from small countries are called off-brand currencies and can have spreads as much as to 1, pips. The broker retains the spread, which is the difference between the buy and the sell price. To break even, the market would need to move up 4 pips in your direction.
To make a profit, the market would need to move more than 4 pips in your direction. Price interest points, commonly known as pips, are usually expressed in decimals. Depending on the pair of currencies being traded, pips are usu- ally the last numbers of the decimal.
Most traders on the Forex trade with what is called leverage. When a trader executes a trade on the Forex, the trader is buying or selling currency in units referred to as lots which is a set quantity of money.
There are typically two types of lots that traders will trade. You will see that the currency moved in our favor to 1. Trading can be a worthy full-time profession or a great way to earn sec- ondary income. Either way, you will need to learn the three basic skills of trading as you watch price movement against time. How to determine the current trend on any time frame 2.
How to develop an entry strategy that works consistently 3. How to develop an exit strategy that works consistently Once you master these three skills, you will be in a position to take advantage of the significant profit potential in this market. After you open a trading account, the broker gives a trader the right to execute transactions, which includes certain rights and privileges, including the right to be a bull or a bear. The terms bull and bear were created by traders in the stock market in the early s to identify the direction someone was trading in the market.
The term bull was derived from the way in which bulls attack or charge, moving upward. In contrast, bears move downward when they attack or charge.
Bulls, therefore, resemble a buying market, because they believe prices will continue to move upward, or rise, whereas bears resemble a selling market, because they believe prices are going move downward, or fall.
Every trader has to make a decision to be either a bull or a bear before entering the market. Bulls enter the market buying first and exit selling second. Bears do the opposite: they enter selling first and exit buying second. To make a profit in the market, you must always buy low and sell high.
Both bulls and bears are trying to do that; bears just reverse the transactions see Figure Remember, there is a bid price and an ask price with a 3- to 6-pip spread on the major currencies the U. Traders buy on the ask price and sell on the bid price. If you want to enter buying, you would pay the ask price of 1. You can enter and exit the market using a limit order, which are orders placed ahead of time to enter the market buying below where current prices are or selling above where the current prices are.
They are placed like a limit order at a predetermined price; however, they turn into market orders when the market reaches the predetermined price and may be subjected to slippage. The rule is, when you place a buy order above the current market price it is called a stop order, and when you place a sell order below where the current price is it is also called a stop order.
Every trade should have an entry point, a predetermined exit point for profit, and a well-thought-out exit point for minimal loss should the market not go your way. The rule is, every buy order should have two sells: a sell limit order for profit and a sell stop order for loss protection. Conversely, every sell order should have two buy orders: a buy limit order for profit and a buy stop order for loss protection. Some trading software programs allow the trader the ability to place an OCO one cancels the other order.
This means the moment the market hits either the stop order or the sell order, it cancels the opposite order. By trading with an OCO order, you are not left exposed with a working order after either your stop or limit has been filled and you have been taken out of the market. An OCO order offers you the opportunity to set a trade and forget about it. You can literally walk away from your computer and not be concerned with catastrophic results if you have properly quantified your potential losses before you placed the trade.
No one knows where the next pip will go, so the best you can do is plan your trade and trade your plan. One of the most important and productive habits you can adopt is properly educating yourself about the Forex before you begin trading. If you move forward without the proper education, be prepared to lose your money, much like in a casino.
Just like the casino, the market will be there to take all your money. I have learned that to achieve success in trading requires learning to understand the three critical facets of trading: 1. The technical education and trading knowledge 2. The fundamental understanding of what determines market movement 3. All successful traders learn that working through frustration is the path to success.
Knowing what to do when you get frustrated is critical. Strong people make as many mistakes as weak people. The difference is that strong people admit their mistakes, laugh at them, and learn from them, and that is how they become strong. Mistakes are part of being human. We need to appreciate our mistakes for what they are.
Before you begin trading, you need to create your own mission state- ment to help you focus on becoming an educated, financially successful, long-term Forex trader. I want you to think of your journey toward becom- ing a successful trader as a transformation of thought, a new process of knowledge build-up, followed by: 1.
Disciplined thought 2. Disciplined rules 3. Practice first on a demo account to become comfortable with the trading platform before trading with real money. You begin to trade with real money, work through your emotions, and learn to trade within the equity manage- ment rules to achieve a consistent financial return. You mechanically execute profitable trades with no emotion. More than 90 percent of all traders who attempt to become successful on the Forex fail.
Our professional international team at Market Traders Institute adamantly believes in proper education first. Knowledge is the key that can make a big difference in the success of a trader, providing a necessary edge. I cannot stress this enough: the majority of the world is locked into managing its poverty or mediocrity.
Very few people learn how to manage any kind of success because they are not given any sort of manual or instruction guide to success. Growing up, we learn how to survive finan- cially from our caregivers and circles of influence. But not all mentors are successful, leaving many to learn through trial and error. Thousands of books have been written on how to achieve some sort of success. I believe that success comes from acquiring the right education about the opportunity; possessing the right work ethic; implementing the right productive daily habits; and believing with focus, concentration, action, and a positive attitude that your dream will come true.
Successful people keep things simple. They find beauty in simplicity. The average per- son, for some reason, tries very hard to complicate things, even the simplest processes or procedures. I, on the other hand, have worked hard to take a very complicated issue, Forex, and simplify it, enabling just about anyone to understand how the markets work and how to trade them. During the next 18 days, it continues the loss of information until it settles at 3 percent retention of the new information.
Our focus at MTI is to provide you with productive practical, continued education, enabling you to be trading with percent-plus recall. You must practice them over and over again until they become an unconscious habit. Doctors prac- tice on cadavers first. Pilots fly with instructors long before they go solo.
I personally believe that self-empowerment is learning how to fish and that dependency is all about being handed a fish to stay alive. Make no mistake, there is no holy grail! You cannot buy any indicator or trading system that works percent of the time any more than the airlines can buy an autopilot system that eliminates the need for pilots.
I would think not, because if you could create such a trading system, all you would need to do is walk into any major financial institution like the Bank of America or the Royal Bank of Scotland and show proof that your auto- mated system works.
Just as there is no perfect trading system, there is no autopilot sys- tem that works without a pilot. I very much doubt that human beings will ever put their lives on the line with a computer or autopilot system in an airplane without a pilot.
We all have bought enough electronic equip- ment in our lives—TVs, VCRs, cameras, and so forth—to know they all fail eventually. Pilots are educated and trained to fly proficiently before they are even shown where the autopilot system button is. The first time I got into the cockpit with my instructor I asked him where the autopilot button was. I did eventually learn how to engage the autopilot function and will have to say, the autopilot system is not a fail-safe function without the close moni- toring of a pilot.
As powerful as such systems are, when things start to go wrong, they cannot make spilt-second decisions in the best interest of the passengers. They can only do what they are programmed to do, and there are too many variables in flying to program absolutely everything. Autopilot systems do not work percent of the time, they have their limitations. As a trader, you will learn that, from time to time, the trading environ- ment will be ideal enough to use an autopilot system.
That is truly suc- cessful trading. I was sitting in my office at home and had been in a few trading positions for a couple of days on four different currencies. All of a sudden, they all took off like rockets in the opposite direction of my positions. Thank goodness I was not using an auto- pilot trading system or I could have been financially wiped out that day.
I was stopped out on all four currencies and was able to preserve what profit I had made. The reality is that to become a successful trader, you must go through an education process no different than that of becoming a pilot, a physician, or of any profession that requires a specific discipline to be mastered.
I am even more amazed at the massive amounts of people willing to purchase these products. But I am never surprised when they call our office and share their experience of buying a Forex program that failed or disappointed them.
These traders are now pleading for help because with their current system, they keep on losing money and have no idea how to make it back. A fair question is, did the system truly fail or was it the system found between their ears that failed?
You must be taught how to use the best tools available for whatever profession you want to pursue. If you are going to be a ditch digger, you need to be taught how to use a backhoe as well as a shovel and be taught in which situations one or the other should be used. Learning to trade on Forex, from someone who is already successful at trading, is critical. Finding out which trading tools they use is equally important. Now is not the time to go bargain hunting for tools. Bargain hunting for free or low-cost trading tools is like learning to navigate on the ocean with a compass in a foot canoe—clearly the wrong vessel for the environment.
A solid built, 1,foot, state-of-the-art cruise ship with all the latest gauges for weather would be wiser. With so much at stake, do not take a shortcut on paying for quality trading tools.
These systems can be back-tested over many years instantaneously, allowing a trader to see if their trading strategy is a good one, or if they are working in the wrong direction. You can create a trading strategy that aligns with your personality, program it into a system, back-test it, and, if it is productive, have the trading system send you alerts via e-mail or cell phone when an entry and or exit signal is triggered see Figure The most important part about a trading system is that it must be simple and easy to use.
Whether it is done visually or created by a trading system, your trading strategy must have three very important components: 1.
It must be able to find the current market direction. It must have a consistent entry strategy that works consistently. It must have two very clear exit strategies, one for protecting you against major losses and one for capturing a profit. In Figure , you can see a line that goes above and below the price movement against time that is monitored by a computer creating a candlestick formation candlestick formations are a way of monitoring the open, high, low, and close market prices in any given time period.
This line is called a moving trend line; a visual indicator of market direction or perhaps the current trend. When you turn on your computer and begin to review your charts on any time frame, if the current candle is above that line, the market on that time frame is in a potential uptrend, and if the current candle is below that line, the mar- ket on that time frame is in a potential downtrend.
No matter what time frame you trade in, this simple exercise accompa- nied with this system can help you determine trend direction. Before you use an autopilot program, you need to understand how it has been programmed. Looking at the moving trend line, on any time frame, can help you deter- mine market direction on that time frame. One mistake traders often make is believing that a trading system created for a minute chart will work on all time frames, such as a one-hour chart or a daily chart.
Sometimes it does work, but typically, as you move a trading system from one time frame to another, you may want to adjust the settings of such a system to optimize its performance on that time frame. It is vital to find trading software that will not only allow you to change these settings but also instantaneously back-test the results as found incorporated in MTI 4. Every trader wants the market to move in his or her direction from entry—there is nothing worse than get- ting in a trade and having the market run in the opposite direction.
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