Last week I mentioned a number of stocks exhibiting Railroad Track patterns. If you were onto them you’d have had a productive week! I’ll show them again in today’s video.
Your Trading ‘Homebase’
I also want to pose a question for you today, and that is:
Do you know what your ‘homebase’ (of trading) is? In other words, do you know your ‘go-to’ place when you realise you’ve got to get back to basics?
I see this all the time – traders doing phenomenally well using my methods and it all seems too easy. They then start getting more aggressive, believing they can do no wrong, putting more money on trades, not managing their stops properly … and then the market whacks them!
At that point they become disorientated – this is a common phenomenon and this is where you really need to know where your trading ‘homebase’ is.
Your go-to place should be right where you started with me, which is probably a very disciplined place, ie:
- The very best OVI-flag patterns
- The very best reversals (ie railroad tracks and stand-out doji setups).
Anything else should not pass muster.
Something to think about and I’ll be talking about it during our webinar on Wednesday.
In the meantime, here are all those Railroad Tracks from last week!