The most important piece of the puzzle of becoming one of the “fittest” traders, is accepting that to progress and profit you must evolve and adapt.
Many traders from our initial Sniper Club evolve and adapt through the years. They were once just trading with LTF Chart Patterns, riding the LTF R-waves when market trend, Swing on Sky & Land when market did a BIG side-way move. Now, all these traders has evolve and adapt when we focus very much on HTF chart & candle analysis.
During my last evening session, I tried going through the “SLBW strategy” exercise with the current new class. I asked the class: How many different scenario that can happen to catch the price reversal using “SLBW strategy” on LTF?
The best but not so common is when market moving in a sideway condition. This is the easiest and the simplest, trader can just trade on R3/S3 to catch the reversal.
The more challenging part for SLBW traders is when market trend. An additional skill is needed to add on to such a market condition. That is “E-FIB”!
This FIB is created to help trader identify the likely place where market will reached it’s exhaustion levels.
This is of course just 2 different way of trading SLBW,(due to time constraint in class, we can’t go on any further) there’re of course more ways to help traders to perfect their skill-set, but just like teacher Tom’s sharing last evening to the class (it’s the path you walk in this trading journey, your trading experience will help you to evolve into a more competent SLBW trader. I shall leave it to them to explore.
To survive in the game, continuous learning, adapt and improve is the key, Trading truly is survival of the fittest and traders who are passionate about their craft will survive. This means if you’re in to this place to try and make some ‘fast money’ you are not going to survive. A fit trader truly are passionate & love trading.
Have a nice weekend.