A trader\'s money management system

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c06 JWBK182-McDowell April 25, 2008 15:54 Printer: Yet to come

54 A TRADER’S MONEY MANAGEMENT SYSTEM

FIGURE 6.6 TheART Software Identifies a Market Correction with MP, minor

pyramid trading point triangles.

Source:eSignal. http://www.eSignal.com

Remember, the “right side of the chart” is always an unknown quan-

tity until it reveals itself. Hindsight is generally 20/20. Trying to predict the

markets can be an elusive and impossible endeavor. So do not berate your-

self if the ability to correctly identify market cycles takes you some time to

develop.

YOUR TRADING SYSTEM IS YOUR BEST

FRIEND

“A man’s best friend is his dog,” as the saying goes. In the markets, the

trader’s best friend is a sound trading system. If you take the time and

energy to develop a winning system it will reward you with a lifetime of

companionship and consistent profits.