Most of the traps I trade come from the Trading Timeframe or Lower Timeframe charts. I don't watch the higher timeframe for traps. However, I do see them from time to time. And they can provide some nice trading opportunity. Ok, "wrong" is probably a poor choice of word. The reality is that we don't…
I get asked from time to time whether I ever "stop and reverse" a trade. That is, enter SHORT when stopped out of a LONG position. Or enter LONG when stopped out of a SHORT position. The reality is that I don't do that often. The failure of one trade is usually NOT an…
Let's start by assuming that you are tracking your trade results and compiling stats to drive further growth and development. (See here if you're not!) What do you do when you discover one part of your trading plan consistently underperforming? It might be one particular setup. It might be one particular type of market…
The quicker you can recognise that you're wrong… the quicker you can become right. Here is a useful rule: Two Attempts – Then Reassess! After two attempts at a trade idea, if it hasn’t worked, it’s clear that something is not right. You’re not in sync with the market. Either: You have misread the…
