In simple terms waiting for right circumstance.
What Crocodiles Can Teach You About Trading
Please read above article and think deeply about it.Croc can teach you to become a great trader.
I have read many trading books and none come close to this article's wisdom.
Hunting successfully and surviving millions of years then croc sure is doing something right.This is no joke.Best trader examples are in nature.
Your challenge is to overcome your greed/fear demons and practice alert patience like a croc stalking a prey.
Make a check list before entering a trade
Mine are
1.Check News/fundemetals
2.Support/Resistance
3.Where is price in relation to 200MA on daily,weekly (Banks often use 200MA as barometer of trend direction)
4.Where is price in relation to daily ,weekly Channals
5.Trade only top/bottom 20% of channel.
6.No trades to be taken if price is not in the zone
7.Trade without fear
Price channel example.This is my style which is position trading however idea is the same waiting for right confluences and those criterias varies from trader to trader..Develop a working plan that suits you.
In trading, you have to be defensive and aggressive at the same time