XAUUSD | Supply & Demand zones

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Golden Trading Rules:

Waiting for the right trade


Many of the traders interviewed said that patience played a big part – waiting for the right opportunity to come along. This ties in with a quote from another classic trading book: “Reminiscences of a Stock Operator”, written about a legendary trader called Jesse Livermore who was active in the 1920s. He said that it wasn’t his doing that made money, but his sitting on his hands. This applies to waiting for the right opportunity, and then holding the trade to maximise profits. Nearly 100 years later, it’s an approach still used by successful traders and one echoed by the many interviewees in Schwager’s book.
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