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What is a trade scanner? #LearnWithPAL
A scanner is nothing but a set of buy/sell rules which a trader defines after he/she manually backtest his/her ideas on charts. It is a method to translate your trading ideas into a rule so that you dont need to manually scan in future
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A scanner is nothing but a set of buy/sell rules which a trader defines after he/she manually backtest his/her ideas on charts. It is a method to translate your trading ideas into a rule so that you dont need to manually scan in future
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There is nothing magical in it but lot of people ask me to share a magical scanner to get 100% solid signals which can change their life. This sort of thing doesn't exist at all. Its a myth to have a scanner giving 100% accurate results.
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My scanner may or may not work for you because I built it based on my trade conditions & I look for something specific in a chart before I take a trade. Even if you get the scanner, you may not get the required conviction along with it.
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Expectations from a scanner:
Not all signals from a scanner can be traded. While it gives you results at high level you are still expected to check charts if it meets all the requirements of a trade & then take a trade. Set right expectations from the scanner. Be reasonable!
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Not all signals from a scanner can be traded. While it gives you results at high level you are still expected to check charts if it meets all the requirements of a trade & then take a trade. Set right expectations from the scanner. Be reasonable!
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