Trading and real estate have one thing in common they both are about “location, location, location.”
All trades should be built upon location.
SUPPLY/DEMAND LEVELS ARE KEY
I teach all my traders that patterns are secondary to location. Location of major demand/support could qualify a potential long entry only if secondary pattern alignment is in agreement.
On the flip side, location of supply/resistance could qualify a short if secondary pattern alignment is in agreement. Those two statements put in motion will cause you to trade less waiting for location with pattern alignment.
Having a structure to your trading mind with rules will cause you to become more disciplined thus trading less and making more. Stick to the basics and build from there and keep it simple. If you want to buy the best setups, stick to the location of demand or supply with secondary pattern alignment.
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Learn more about Troy’s trading style here at www.gapedgetrading.com
