In no way am I try to promote gun violence, but as traders we can learn a lot from the characteristics of a sniper.
A sniper is also known as a marksman or a qualified specialist who operates alone, in a pair, or with a sniper team to maintain close visual contact with the enemy and engage targets from concealed positions or distances exceeding the detection capabilities of enemy personnel.
So you are probably thinking what on earth has a sniper got to do with trading right? Well lets find out.
First thing we can learn from a sniper is they have ridiculous amounts of patience. For example, they would need a clear visual of the target, the sniper will want to be in a discreet location and the weather conditions will need to be perfect. A sniper will only take down their target when all conditions are met.
As traders we need to follow the same steps before entering a trade. We need to make sure we have a concise trading plan and all the conditions have been met before we pull the trigger. Do not jump into trades because your bored, wait for your setup to develop.
Snipers need to be very selective with their targets as they do not have ammunition to waste. This can relate to the timeframes we use to analyse our charts.
The lower timeframes below 1 hour are referred to as machine gun trading, these are faced pace erratic conditions. These traders are constantly exposing their capital to the market which is extremely risky. The higher timeframes above 4 hour provides us with the highest probability targets when compared to the lower timeframes. The Weekly timeframe is very valuable but it does not provide as many target as the Daily. As traders we always need to focus on the bigger picture and higher timeframes ensures this.
A sniper will train for years to perfect their skills, and they know exactly what their target looks like and pulls the trigger without hesitation. This is similar to trading as we need to continue to work on our trading strategies we use in the markets. Once we master our strategy we willbe able to achieve our full potential as a Forex/Stock sniper.
Becoming a master in any field takes time, hard work and dedication. If you are tired of machine gun trading and would like to trade with a lot finesse, then subscribe and keep up to date with our live set ups.