One of the most obvious changes in my own trading over the last decade is a willingness to take fewer trades.
It used to be that if there was a price swing… I wanted to trade it.
On the plus side this meant that I was there for everything that did move to good profits. But it also meant that I had to suffer through many sequences where the market went nowhere and the best I could hope for was to grind out a breakeven result.
Now, I'm quite content to let the market play without me. If I miss opportunity, so be it.
I don't need to trade everything that moves.
Instead, I aim to stick to the easier sequences. The times in the market that typically have greater range. And the places within the structure that are more likely to offer favourable conditions.
I choose MY playing field. And I play MY game. What the market does outside of this game, is of no concern at all.
Let's start by looking at a Higher Timeframe chart to get some context:
You don't have to trade every price sequence.
Choose YOUR playing field.
And make sure you're playing YOUR game, not the markets.
The more I read your experience more I become a mature trader…Thanks for sharing wisdom !
You’re welcome Sushil. Thanks for the kind words. And best of luck with your trading.
Hi Mr. Lance
This is exactly one of the most important factors that I tried to improve because if we expect to enter in any situation and movement, then the mental pressure will increase and maybe we will lose the concentration useful for a good position. According to the principles of situational awareness that I learned from you, the best time to play is when the context confirms the most perceptual factors and we act rationally by planning.
True – “the best time to play is when the context confirms the most perceptual factors and we act rationally by planning”.
Trades should be seen ahead of time. Pre-planned, rational analysis. Not emotional reaction.