Why traders chicken Out At the last minute:
Ever watched a candle break resistance and followed a pattern you drew but you never took the trade? That’s FOMO setting in right there. Aside from the days you would just observe the charts, the candles will always follow hype, market wars, exchange rates and other factors which are all available to traders but how come some make it very easy and others keep failing? Don’t worry, I got you.
How to trade like a sniper? I’ve listed them down in 5 easy steps.
• Identify the Key Level: If price keeps failing at a specific zone, that’s the gold mine right there. Watch it, prey upon it and attack head on.
• Patience is your ammunition: Wait for confirmation and not emotion. Don’t jump at the first green light and just because you see a red light doesn’t mean stopping.
• Retest is King: After a breakout, the price might return back to the support to create a retest for a new resistance. Identify the golden entry and make your move.
• Manage your risk, save yourself from higher blood pressure. Set that stop loss, trade with discipline and not delusion. Risk should always be 1%. Don’t you understand? Read the Seykota’s method.
• Gratitude. The absence of gratitude is the reason why greed comes. Be grateful for every cash you make cause on the other hand, the p2p aspect of trading proves that it’s player verses player.
• Want more info, Smash the follow button.