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The Value Of Method: Corn
Have a plan. Be ready to change it, but always have a plan.
Successful investing is never born of disarray, as any experienced trader will tell you. That's why an effective methodology for trading will include effective rules. So, when a commodity's price action does the unexpected, coherent rules to govern your analysis and actions can be the difference between a big loss and a small one.
A proven methodology also means that you can understand and learn from unforeseen market action. When Corn's latest downward/sidewise trend stretched beyond expected levels, Futures Junctures editor Jeffrey Kennedy had rules in place which made it clear that something else was unfolding. Contrast that with a no-guidelines novice who would be forced to exclaim, "its just the market!"
Ready for a methodology? Jeffrey Kennedy is one of the best teachers of the Wave Principle around, and imparts his wisdom on a daily basis alongside his commodity forecast.
Learn more about Futures Junctures here.
Given Corn's continued sidewise price action today, the adjustment of Jeffrey's forecast barely changes the immediate outlook. This is a third benefit of having a method, namely the ability to often stay confident in your forecast. While a "no-system" trader would have zero idea about Corn's next move after today's action, an investor backed by rules can put today in a context that connects his work to the previous day, and the day before that -- the same rules always apply.
So even if the latest developments in Corn demand a small adjustment, Jeffrey's previously established confidence about Corn's direction still stands. His system is the Wave Principle, and healthy doses of the discipline, focus, and patience it takes to practice it successfully.
Trading with focus, discipline, and patience is never as easy as it sounds, but Elliott Wave International's Futures Junctures Service can get you started with just the right mix of education and market forecasting. Learn more about Jeffrey Kennedy and the Futures Junctures Service
right now.