In a recent post on the deployment of the CROSSHAIRS, I used FCX as an example.  I now return to FCX to prove a point about the reliability and repeatability of the CROSSHAIRS.  In other words, a simple pattern will repeat itself over and over again, thereby, providing a reliable source for consistent money making.

Let’s go back and look at the first trade IN THE CROSSHAIRS:

Here THE CROSSHAIRS provided a good entry and exit point for a quick profit. Then you had to PATIENTLY WAIT for the next CROSSHAIRS to form, which it did 14 trading days later. 

Let’s look at the latest one. Here is the DEPLOYMENT CHART…

…and the DAILY “TERRAIN” CHART.

Here you have another CROSSHAIRS that formed on July 2 and the reasons for entry on this trade is the same as the trade 14 days earlier:

1) The formation of THE CROSSHAIRS on the DEPLOYMENT CHART.

2) 50 TANKS act as resistance on the DAILY “TERRAIN” chart.

3) A good profit target is provided as the stock has a high probability of moving toward recent support.

CONCLUSION:

Waiting for one pattern to repeat itself over and over again allows THE CROSSHAIRS TRADER to remain focused. Just as a SNIPER must remain focused on the enemy in order to survive, the trader must remain focused on the trading battlefield or there will be no more fighting.

When a trader jumps around from trading system to trading system or simply trades from emotion with no rules, the result is failure, and success, at best, is fleeting.

Post from: The CrossHairs Trader

CROSSHAIRS TRADING AND REPEATABLE PATTERNS

Related posts:

1. HIGH PROBABILITY TRADING IN THE CROSSHAIRS
2. UNDERSTANDING STOCK MARKET MOVING AVERAGES WITH THE CROSSHAIRS TRADER and FORREST GUMP
3. THOMAS BULKOWSKI AND THE FAILURE OF POPULAR STOCK TRADING PATTERNS

Last 5 posts by David Blair

• THE THINKING TRADER 11/20/2009 - November 19th, 2009
• OVERTRADING: YOU MIGHT BE A STOCKAHOLIC IF… - November 17th, 2009
• THE THINKING TRADER 11/13/2009 - November 13th, 2009
• VETERANS DAY 2009 IN THE CROSSHAIRS - November 11th, 2009
• THE ART OF TRADING VERSUS THE ART OF DECEPTION - November 10th, 2009