WAIT.
Since trading is about waiting, one must learn to wait.
A rule of thumb regarding waiting:
Look at the time it took PRICE to make its last HIGH and LOW swing. Wait that long before you enter a second trade in the same direction.
Example:
Assume one minute (M1) chart.
You enter long off a low. You exit for a profit but PRICE keeps going up. Price reverses back down. It took price 17 minutes to make the swing from low to high. You must wait at least 17 minutes BEFORE you enter long again.
You will miss some winning moves but you will also miss some losers.
This rule of thumb helps prevent OVER TRADING!
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