Alan Farley Alan Farley is a private trader and publisher of the Hard Right Edge, a comprehensive online resource for trader education, technical analysis and short- term trading tactics. His methods have been widely featured in the financial press, including Barrons , Smart Money , Tech Week , Active Trader , TradingMarkets.com and TheStreet.com. Books The Master Swing Trader , McGraw-Hill, 2000 Swing trading -
Forget the news, remember the chart. You're not smart enough to know how news will affect price. The chart already knows the news is coming. -
Buy the first pullback from a new high. Sell the first pullback from a new low. There's always a crowd that missed the first boat. -
Short rallies, not sell-offs. When markets drop, shorts finally turn a profit and get ready to cover. -
Don't chase momentum if you can't find the exit. Assume the market will reverse the minute you get in. If it's a long way to the door, you're in big trouble. -
Trends test the point of last support/resistance. Enter here even if it hurts. -
If you have to look, it isn't there. Forget your college degree and trust your instincts . -
The trend is your friend in the last hour . As volume cranks up at 3:00p.m., don't expect anyone to change the channel. -
Avoid the open . They see you coming, sucker. -
Price has memory. What did price do the last time it hit a certain level? Chances are it will do it again. -
Beat the crowd in and out the door. You have to take their money before they take yours, period. www.hardrightedge.com |