Would any bank give you a loan without first checking your credit score? Of course not! The same is true when it comes to trading. You should know how the instrument you are trading has performed in the past during particular days and times, purely based on that instrument’s various statistics, before you place a trade.
If you aren’t using stats as the foundation of your trading plan, in our view, you are essentially gambling; we believe this to be true no matter how many indicators you use. Indicators make excellent “framing” tools, but in our view, they need to be built on top of the core foundation of past statistics in order for a trader to have a meaningful edge.
Could you imagine what would happen to the hefty profits of casinos in Las Vegas if they didn’t rely on statistics to maintain their edge? Why not arm yourself with a powerful tool such as the Stats Harvester™ to scan the entire market, in order to find the best potential times, the best potential days, and the best potential trading instruments for you to trade, all based on past stats and odds? Please scroll down for more details on how you can easily use this highly resourceful trading tool.
Use Stats Harvester™ to scan the entire market to discover best days and best times to trade various instruments, based on past statistics and odds. Stats Harvester™ will also help identify potential price targets and stops. Once you use Stats Harvester™ to identify a list of various potential trades you can make throughout your trading day, you simply look at each particular instrument’s chart a minute or two in advance of the time you intend to trade to do your framing →
Once you’ve identified a list of potential trades that you can make based on your Stats Harvester™ findings, and checked each potential trade’s historical price ranges vs your daily profit goal, you can then “frame” your potential trade by applying indicators (trend lines, RSI etc.) to the chart of the instrument you intend to trade for the purpose of finding support for your statistical trading bias. If the frame (trend line) matches the foundation (expectation based on past statistics) you can then reach a decision →
Based on past stats and odds as provided by the Stats Harvester™, coupled with framing your foundational statistical findings via a supporting indicator, such as applying a short term trend line to the trading instrument’s chart, you may then opt to enter the trade once your expected direction of a trade based on past statistics, gets further support from the trend line.