Apr 15, 2021 Josh Martinez here!
One of the things I like to remind my students of regularly is that the market trades in waves. When we see a market shifting up or down, it's going to do it in a stair-step manner on your charts. You'll have your highs and your lows, but an overall up or down trend will develop. Those wave movements mean that sometimes the best thing to do is wait. Even when we're expecting an overall bullish trend, we're bound to see some bearish dips on the way there. But that doesn't mean we shouldn't trade.
If you're already in a position as the price continues to fall, keep an eye on the long-term trend. For most traders, that means staying in your position until we see a reversal. But if you can't handle a multi-tick drop, you can exit and then buy at a lower price. You have options. It's all about managing your risk on the way to the top.
It's easy to get stuck in a trade that quickly goes against you. But if you can have an idea of when things are going to turn around and go your way, you can skip right over a slumping market and get in to win. Don't miss out!
Mindset Advantage: Mind The Gap There's always a gap. The gap between you and the results you'd like. The gap between the losses you can sustain - and the losses you ARE sustaining. The gap is what's holding you back. Not the market. Not your charts. You. Focus on what you need to change to close the gap a little each session. Apply a little more discipline.
There is a very high degree of risk involved in trading.
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Thursday, April 15, 2021
Sometimes the best thing to do is wait
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