And, most importantly, what are you missing in your trading if you are not aware of it?
the first time I have read about the Bandwagon Theory I dismissed it as not that important.
What a big mistake I did!
It took some years, when I finally started getting interested in algorithmic trading, before I stumbled into it again and, boom…. it all made sense.
Now I recommend new and experienced traders to make sure they understand it… and very well.
As the Bandwagon Theory is an allegory of how the markets work – and a powerful one, too – it is not so easy to grasp its practical importance and how we use it in our trading. Also it is not easy to see how we can relate it to our trading method.
For this reason I decided to illustrate the Bandwagon Theory on the EUR/USD, so to provide traders with a much clearer and actionable explanation.
… and I will be offering a free Webinar at FXStreet.com on Wednesday July 2, 12:00 GMT on this topic.
Find the details hereunder:
Title: The Bandwagon Theory Illustrated in Modern Markets
Summary: “I will discuss a powerful allegory for markets behavior, worth alone months, if not years, of trading exposure (not an overstatement). It can save a lot of time, money and mental pain. I will illustrate the Theory on the EUR/USD and the recent daily chart of NZD/USD, explain how it applies to my trading and how it relates to Algos trading in Modern Markets.”
To register for the free Webinar you can click here.
In the mean time you can also read more about the Bandwagon Theory in:
- This article on the Bandwagon Theory I wrote in September 2012
- The related section in my eBook “Key Concepts” you can download here.
Giuseppe Basile, ~the FibStalker