TRADING STRATEGIES
If I were to compare trading strategies to fly fishing, I would liken them to the different depths at which different fly patterns are fished. Some of the biggest catches are far beneath the surface, off the bottom with nymphs (Bottoms-Up Type I, II). The most plentiful catches are made with a dry fly on the surface (momentum trades), and the best all-around weapon is the emerger pattern just beneath the surface (Pull-Back Type I).
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