Don’t Be Captain Obvious – What We Can Learn From the Oil Chart

Premium & Expert Swing Trades
Overview:

We talk about structure all the time, and like a magician the market can often provide a slight of hand.  One of the biggest obstacles for new traders, both position and swing, is avoiding the Captain Obvious trade. All to often we get caught up in what is obvious on the charts, and our Cognitive Biases take over.  It is difficult to separate what we want to see and what we are actually seeing until after a trade goes South.

Whenever I personally have a losing trade, I go back over the chart and see if there was something I missed, that was less obvious to the herd.  Over time you start to pick up on different scenarios and expand your vision of structure.  You look for things that those following the same charts on the same time frame do not.  This expands your knowledge, and hones your trading skills.

I use oil here because it is a perfect example of the Captain Obvious Trade.

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