Trading Educators Blog
Here are some steps to take before the market opens. View major formations, view potential congestion areas, get the big picture from charts of a greater time frame than then one you use in trading. Write down the location of all potential order placements — yours and where you think others have placed orders.
You need to go through exercises like this, every day that you trade. This is discipline. These are the kinds of habits that can make you a great trader.
If you are too busy to be disciplined, then you are too busy to trade. You're going to lose your money.
That's too bad, but if you don't discipline yourself, you will soon notice that both you and your money are not around anymore. We'll miss you both.
Have you noticed any markets making a bottoming formation?
When you see a market bottoming, reaching lows not seen in a long time, it's time to consider some long range planning. This would include taking a deep pockets position or, possibly purchasing some call options. Do the opposite when you see a market topping. You can tell this is happening when a market makes too steep a rise, and you see a blow-off top.
Master Trader Joe Ross wants you to learn trading and he created products to do just that, teach you how to trade. Go to our website to find which ones best fit your trading style.