DripI believe for most of us who have traded there have been times when we recognize when we had an urgency to take a trade in a very unclear market when we knew in a conscious or subconscious manner that this was a very uncomfortable trade we were about to make. Even if we have systematic ways to judge risk and reward and trade management, something inside of us is very uncomfortable about a trade we are about to take, and about to lose money. For most of us we know there are times when we felt the urgency and simultaneously felt the threat of a trade that we are about to take. We can even put a lot more time and analysis, and this can perhaps compel us that we must take a trade even though we don't feel much better, but we worked hard and did our best to reach a trade decision. We all know how this can turn out.
This video is about simple notation on a chart with much less detail that I would normally add to a chart in order to see how different high opportunity set ups look compared to more ambiguous and lower opportunities. The fact is systematically electing to find a trade in problematic markets generally will lose money, and it will not generally give you the best reward in my opinion. Each of us has to decide about markets in a very personal way. My belief is that some behaviors are much more reliable and give greater profit, and I believe simple notation can result in more clarity and better outcomes. I believe it is better to be a flea sitting on the back of an elephant then being a flea running headlong into an elephant running the opposite direction.
See what you think about the few lines that are on this chart, and if it resonates with you or might be something you think deserves more attention: then add Trip to your watchlist, and draw the basic lines as there are not many and then follow this market. You may have a market that you normally follow, then consider placing lines like this on one of your charts for that market and follow it for a while. If you don't draw the lines, you simply won't use this kind of analysis. If your impression is that this analysis has no value then there's no reason to draw the lines.
