In a conversation with a fellow trader I was asked, “Don’t you worry about being wrong when you’re pointing out trades in front of a room full of people?”

Nobody likes to be wrong, especially in front of all your friends and clients. I thought about this for a moment, because while I fear losing money I had never focused on fearing being wrong in front of others. I did used to have dreams of being at school, or out at the park, and realizing I had no clothes on – which were nothing short of terrifying.

I told him, “No…I don’t fear that, because I cheat. I only point out trend trades”. I said that because I know the statistical value of highlighting set-ups and signals in-line with the higher time frame trends, compared to basing directional decisions on intraday charts.

I also showed him the trade we highlighted yesterday in the Live Market Exercise and why. See EURUSD chart below.