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Day Trading Grain Futures: A practical guide to trading for a living by David Bennett

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8: Charts

Tracking the money

Price charts are important because they enable me to track the money. Large institutions typically have analysts studying the world grain markets. I don’t have the resources and information sources to compete with them. But no matter.

If analysts believe price will rise, the organisations they work for need to take action. Their activity is inevitably reflected by changes in price recorded on a price chart.

I visualise myself as a skilled tracker, not a market analyst. My task is to pick up the trail of big money on the chart and follow it to the pot of gold.

Big players do their best to obscure the trail and throw me off their tracks, and frequently succeed. But often enough I manage to hang onto their coat-tails ...

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