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Trading Strategies

How to Trade Yesterday's High

One line drawn each morning, one condition, one stop, one target — a strategy small enough to write on a card. Measured over eleven years it makes money on gold, the indices and bitcoin, and loses it on the euro and the pound. This paper gives you the rule, the numbers, and the reason for the difference.

Difficulty
Intermediate
Reading time
8 min
Pages
8

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The skill

The previous day's high is the simplest reference line in trading: everyone draws it the same way and it needs no judgement. That is exactly why it is worth building a strategy on.

The rule, on a chart

Notice how little discretion was involved. The line came from yesterday's data and the entry from a close. The last two numbers come from the chart as well.

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