Truly, support and resistance trading is a strategy that stands the test of time.

It’s important to note that too many traders make simple, but very avoidable mistakes when trading support and resistance trades.

The real “meat” of this content starts at 05:13

These mistakes are some of the most common issues we see from younger traders on our desk and even worse, when not properly identified as a mistake, can hold traders back even as they progress into becoming consistently profitable, and even six, seven and yes, 8 figure traders (even they make these same mistakes at times).

Here is an outline of the mistakes we will cover: :
Not knowing market context - Don’t fight bigger picture
Trader on our desk knowing the levels, but not seeing the obvious Big Picture context and this being a BIG mistake for his trading.
Treating every level the same- Allocate Risk the right way
Story of trader making Same trade, same risk and the feeling of “what the hell?” I only made x on this when losing 90% of x on that lesser opportunity.
Not know the real important levels - Look Left, know the real levels
Story of trading against an Intraday important level, hourly important level just below was WAY more important - hit the intraday break right into the daily level, worked and stopped working quickly and it was a GREAT scalp the other way
Not considering volume - Volume is a big clue
Trading long without volume on a break - others on the desk were licking their lips for a fade because of the quality of the level, he was bulled up looking for a trade that just was not there
Not planning what PlayBook trade to take
Trading a LCID break and covering super early as a microscalp but in review, looking at it as a PlayBook Trade and cruising it next time

We will break down these mistakes and go into some great examples and even highlight best practices to help you better take advantage of this truly important element of trading. When you master support and resistance you can better understand market direction, real entry set ups, and real reasons to sell.

Learn the top 3 trade setups we are using on the desk here: https://tinyurl.com/4zy5878f

#tradingmistakes #stockmarket #daytrading

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