Let’s continue with an old article series – the metagame – trading AGAINST other traders who find themselves on the wrong side of the market.
Because…
If I can’t feel someone on the other side of the market getting it really wrong, there is no trade.
You can see the prior articles here if you missed them – One – Two – Three – Four – Five.
Here is the general concept for today’s trade…
In playing the metagame, we aim to place ourselves in the mindset of any trader who bought late in the move, at or soon after the breakout. Feel their stress build as price stalls. And stalls. And stalls. Feel their pain as their “sure thing” collapses back below the stall region. And find a way to profit from their pain.
Yes, trading is a predatory game!
Let’s see some charts.
We’ll be seeking BOF Setup opportunity at this point here:
The key part I want to emphasise today is the following:
Let’s play the metagame and put ourselves in the mindset of those who entered LONG on the breakout.
Trading the metagame…
If I can’t feel someone on the other side of the market getting it really wrong, there is no trade.
Let someone trap themselves in a low-probability position.
Place yourself into their mindset.
Feel their pain.
And when it gets to the point where they’ve lost all hope, STRIKE.
Go get ’em,
Lance Beggs