If You Are NOT Doing This... Then You May Fail At Trading.

"previous structure resistance is going to be a good place for you to look for possible long opportunities again if that's in your trading plan"

"we have just had this double top push down break of the neckline maybe your trading plan says to wait for a pullback into that neckline before you go short or possibly you're already short from here"

"anyone who's new to trading needs to pick one of two ways they're going to trade either trade as a counter trend trader or trade as a trend continuation trader"

"if you're a trend continuation trader you're not looking right here on the one-hour chart at least and maybe a higher time frame you're looking there for a trade but let's not get into that that could get really confusing and it's a little more advanced than I like to get into here on YouTube but let's say you're a trained continuation trader you're not even going to be paying attention to this double-top whatsoever"

"if you're a trend continuation trader you're not even going to be paying attention to this double-top whatsoever what you're waiting for is your rules to be met for the breaking close above your previous level of resistance and your rules to be met for entry in trend continuation"

"let's say you pick counter trend trading instead of trend continuation to be what you want to use in your trading plan well what you would be looking for let's say this is part of your rules is for a market to come up to previous structure resistance while in an uptrend and then put in this double top"

"the answer to that question of should I go long here or should I be going short because of this double top on the one-hour chart should I be going long because of the pullback into previous resistance the answer to that question should be very very easy for you to define based on your rules as a trader"

"the only thing that separates which one of those decisions is right for you as a trader is the rules you have set in a trading plan or in a certain strategy that you're using"

"having those rules will one give you a greater chance of success in any financial market not just Forex and to keep you from being confused about market direction"

"market direction is going to be less important because here again we're running into resistance we have a double top on the 1 hour time frame RSI divergence right here at resistance we could see the market fall from this level as traders none of us know that that's not what becoming successful is about you're not going to know exactly what the markets going to do"

"creating a set of rules that gives us let's say a 60 to 70 percent chance of winning at rate or that gives us a 50 percent chance with a two-to-one risk reward if we create a set of rules that give us those kind of odds every time we place a trade then that's the path to success"