As any futures broker will tell you, the less frequently you trade, the more likely you are to make money. For real tho. Churning one’s account for the sake of action, often excused as “trading for ticks” is a major $$ killer that too many hapless traders succumb to.
A simple mistake that’s easy to fix, when the proper elements for self-discipline exist.
This chart example above is a normal, very common sequence that repeats itself almost daily in almost every market/symbol. Price stalls on a move up or down and signals trades going one way, then the other in same congestion zone. It is a high-odds killer sequence due to the timeless “oops” factor of price action. Nothing more powerful than failed one-way move, gathering momentum the opposite.
In the case of CL futures here, a sell signal quickly failed to make any progress and hit the standard -20 cent/tick stop I employ. Soon after it confirmed a buy signal at the oval-shaded zone marked. Those various lines above are pre-trade, premeasured price targets that ANY market/symbol tells ANYONE who knows our price-action based method where said market/symbol will eventually go. Could be minutes, could be hours, could be next session before reached. But they will be reached in some unknown amount of time 🙂
Take the trade, set stops and let it work. No need to sit there staring at your screens like a buzzard on a gut-wagon. No need to stare mindlessly at every twitch and tick. No pressure to kill the trade before its time out of basic fear/greed negative instincts. Let it run toward that +100 tick = +$1,000 per CL contract measured target.
Let each trade do its intended job. Many, far more than not will reward you, the patient trader, over time. Leave the tick-dicking and fear-based trade-killing emotional weaknesses to those who lack your self-discipline 🙂
Best Trading Wishes,