Market Psychology Behind Price Moves (knowing when traders are screwed, and capitalizing)
I think of price action in terms of who is getting screwed. Because when a large group of traders is screwed, it can produce quick price moves that produce a profit for us. This is applicable to day trading in stocks, forex, or futures. My strategies, whether you knew it or not, trigger trades at precise points where a group of traders is about to get screwed. And we are going to help screw them! There are definitive signals of when this occurs. But we must also understand that price action is dynamic. What was happening can change quickly, which changes who is screwed. We often end up on the receiving end of this as well, which is why we use stop loss orders. Here is an article to go along with the video: https://tradethatswing.com/why-prices-move-and-form-patterns-the-emotions-and-orders-behind-each-price-move/ All my strategies are covered in: Price Action Stock Day Trading Course: https://tradethatswing.com/product/price-action-stock-day-trading-course/ EURUSD Day Trading Course: https://tradethatswing.com/product/the-eurusd-day-trading-course/ We must also accept that at any time a big order(s) could enter the market, and change the dynamic entirely. I have rules for no matter what the price does, which determine whether I will trade, not trade, or how I will manage existing trades. My goal is not catch to every price move. That's impossible and you will suffer too many losses. My goal is to take trades, based on my patterns/strategies, with a good risk/reward, where there are likely lots of traders trapped and the price is likely to move quickly in my favor as the "screwed" unwind their positions. Avoid BEING screwed as often as possible, but it will still happen quite often. Lots more free trading insights at https://tradethatswing.com/ Or follow me on Twitter: https://twitter.com/corymitc
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