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The essence of trend trading is chasing rallies and selling into declines. Unlike beginners who do the same, mature trend traders can filter out false moves that shouldn't be chased. Given the current price action, even if it rises above yesterday's high today, you still shouldn't chase it; if you do, you need to exit, because this is a classic move that shouldn't be chased. When a truly chaseable setup arrives, one trade can earn ten or twenty times your principal. As shown below, the decline in June was a smooth move that you could chase with your eyes closed: