Sometimes you’re just not 100% sure.
Not quite ready to pull the trigger.
At these times it’s best to wait.
Remember this – “If I could only take one trade this hour, would I be happy to make it this one? If not, pass.”
Clearly if you’re hesitating then the trade does not meet this criteria.
Let it pass.
And maybe… just maybe… the next couple of price bars will offer up something that makes the decision easier.
Like this…
If I’m unsure about a trade then I’m happy to pass.
If I miss the trade, so be it. I don’t have to take every trade. I plan to trade for several more decades. My career is unlikely to be defined by this one potential trade. Let it go. And prepare for the next.
But sometimes just another few candles is all it takes. If it offers some price action structure to lean against, I’ll attack that opportunity. And manage whatever follows.
Consider watching for this in your charts.
Happy trading,
Lance Beggs
PS. The following were some earlier articles “loosely related” to this idea, although exploring the concept on the Trading Timeframe chart rather than the Lower Timeframe chart. Either way, it’s all about letting the market turn first and then entering on a slight retest, with other price action at your back. Enjoy…
- https://yourtradingcoach.org/trading-process-and-strategy/you-dont-have-to-catch-the-absolute-top/
- https://yourtradingcoach.org/trading-process-and-strategy/how-to-enter-when-the-pullback-shows-strength/
- https://yourtradingcoach.org/trading-process-and-strategy/let-it-turn-then-find-your-entry/