Bitcoin The mini ES

29 feb

2.29.24 This video is about expansion of markets and finding your trade is a buyer or a seller when the price action is not really in sync with a significant pattern. The disparity between significant patterns and price action can be very stressful. Not just that you may be in a good trade and decide that you want to take profits only to realize that you lost another additional profit if you'd only stayed in the trade. There's one rule I never violate... I will only go long if I see buyers and I will have a small stop.... and I will only go short if I see sellers and I will have a small stop. That stop rule is only part of the trade decision. That rule is like deciding to wear a seatbelt when I plan to go fast... regardless of my reason to drive fast.... and it's almost never a structural stop... it's usually a trade decision at a support/ resistance line Or out of fit relationship extension or a 382 correction or at the pattern of an ABCD pattern. normally you will hear that many traders have stops that are too small and that is the reason why they are unsuccessful. I believe that's because they don't know how to make discretionary decisions based on other aspects of the market which would probably prevent them from even thinking about a trade because they don't understand patterns and support resistance. You want to trade in volatile markets... but you have to respect how costly it is to stay in a volatile market that's trading against you. Honestly, I don't know how to trade contracted markets. The reason why I like contracted markets when I see them is that it means I don't have to stick around and trade that market and this means I can do something else other than looking and trade that market. it's like a holiday.