If you want to be a visual chart trader, you cannot afford to be lazy because you will probably have to look through maybe 20-50 charts to even see 1 potential trading idea and after that you still have to consider very carefully if this the right trade, the right time, is everything in line together.

So if you are just looking across five to ten charts all the time, the chances of you finding actionable trading ideas is going to be very very low on a day to day basis

If you want to be able to identify more potential opportunities, the only way is that you have to look at more charts and I will strongly encourage you to do that if you have the time and you are willing to spend the time because it is a bit like driving.

The first time you get a license you are definitely very very poor at driving, in fact, you will be so unsure about the way you drive a car. But if you spend enough time and effort keep on driving from one place to another, one place to another and all these things will become part of your muscle memory and it will become second instinct to you.

So if you find that looking across 50 charts is very difficult and time-consuming, that’s only because you are starting out but if you have been like me for just a few months to one year onwards, you have been looking at charts, you will realize that once you draw those lines, its really about just flipping the charts to see if any of them pop up at you or not.

So the important thing is trading setup should pop up in your face jump at you and tell you to be focused right now, there is actually this opportunity. If it doesn’t jump out at you and you try to take a trade on that, most likely you are trying to force a trade which most likely is not gonna end up good for you.

So again, being patient being hardworking is very important and key for a discretionary chart trader.

Interested to receive mentorship opportunities like this with Philip?

Find out more at traderwave.com/innercircle

Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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