Stalking a Trade on EURJPY
Stalking of trades is an extremely important aspect of trading that is often overlooked by amateurs.
When conducting market scans it is recommended that you create a watchlist of securities/markets that are very close to meeting all of your criteria for a set up. For example if one of your strategies requires 10 factors to be present but when you do a scan only 8 of those are, but with time the other 2 may set up, then you should put these in a watchlist and stalk them (ie check on them periodically to see if the 2 remaining factors do indeed set up).
Under no circumstances should you take that trade until all 10 of your factors are present.
In this video Travis has identifed that EURJPY may be due a snap back to its averages and he is stalking it to see if he can find an entry based upon his various strategies.
Regards,
Travis McKenzie
Trade With Precision
www.tradewithprecision.com
Receive more articles and videos like this straight to your inbox. Sign up for the TWP Free Newsletter!
Newsletter Archive
If you get a video not found error, please refresh the web page and try playing the video again. You may also need to update your flash player. If you still need help, email support@tradewithprecision.com.