My ‘trade of the day’ came from the GBPUSD currency pair. A market structure trade using key levels recognised by the bank traders. Statistics reveal that almost 95% of these types of trades are completed by banks who make trades in large lot sizes that move the market.
Fortunately, my trading journey started in a large semi-government corporation where I received education and mentoring from a bank trader who traded in the bond markets during the period when interest rates rose to 18% (do you remember that time?).
Even with insight into bank trading, it has taken many hours of education and experience in the markets to be able to quickly recognise market structure and establish trading rules for different structures.
The trader of Shares or Commodities who can identify market structure and the key levels in a market is able to establish rules that allow trading on probability and statistical results.
Trading can be compared to many other skills and disciplines – it takes time, dedication and commitment – firstly to learn and understand, then to recognise in the moment and then step-by-step apply and test how best to execute and manage a trading decision. Our next Trading for a Career course starts on 23 February – don’t miss it!