example, if you are driving in a highway, you can drive fast. Inside the city you are not allowed to drive fast.
Similarly, according to the market structure you have to use your trading strategy, risk management and trade management. Sticking to one strategy in all market conditions wont make a trader money. Understanding market structure comes by experience, but developing it depends on the trader’s
For example in an extreme market, buying when the price breaks the resistance is right and profitable. In normal market, buying at the support is profitable. Because of over confidence about his strategy and believing his strategy is a holy grail an intermediate level trader applies the same strategy in all market conditions (Please refer to chapter – 1 to know about intermediate level trader).
Are you struck with one strategy or one trading style?
Do you believe your strategy is supreme?
Well it is time for you to rethink about it now.
(To be continued next week...)
all up for it