Channels can be an effective tool in trading, but their success is dependent on several factors. Channels are based on the idea that an asset's price will tend to move within certain boundaries, providing traders with a way to identify potential support and resistance levels and to make informed trading decisions.
While there is no guarantee that you will make money or be able to predict your average rate of return over any period, there are strategies that you can master to help you lock in gains while minimizing losses. It takes discipline, capital, patience, training, and risk management to be a successful day trader.
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