Avoid This Terrible Trading Mistake (At ALL Costs!)

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Lance on Twitter: / theonelanceb
#tradingmistakes #stockmarket #daytrading
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[@fightforfreedom5193]

When I first started trading I naively thought that buying and selling at support and resistance would make me a millionaire. I soon realized that smart money was happy to blow through these levels to take out the shorts and stops then trade back in that range. I may miss some of the move, but I have developed patience to wait for confirmation indicators. Thanks for the tips.

[@JoseVargas-bj1wd]

This information is invaluable and richly insightful. It’s so true-I’ve been getting burned over and over by buying in these uncertain ranges (No man’s land) hoping that it will bounce up from there. This video is about trading based on a confirmed move up and not on the hope that it will rise.

[@dhlml]

This is an excellent advice, I might only add that a breakout is only one of the options one should be looking for, a reversal when it breaks out of the range is just as valid especially in the intraday time frame. But trading at the edge of a range has so much more edge than anywhere inside the range (with the exception of occasional VWAP bounces).

[@OS-yg9fr]

vwap is fiction

[@shookmusic3277]

Rectangles are my stragegy! and probably the best pattern ever! These rules at 10:45 are fantastic.

[@Jimzz91]

Great video guys! Thanks. "Dont diddle in the middle"

[@markofny]

Thanks for posting this! My biggest concerns with breakouts from a range are traps. The traps are near impossible to recognize because the moves can be well past the range, can easily reverse in the opposite direction OR they can turn out to be legitimate moves. Can you share some insights on how to distinguish between traps and legitimate moves? What do you commonly look for in these cases? Volume? Anything else?

[@lovelaugh7299]

i personally want to take a position that followed a trend for a long time so i can have a bias and this doesnt happen to me bc like u said its difficult to recognize and those fake breakouts become discount prices

[@yuriiguz8742]

how about managing risk? where do you place your stop?

[@floooobzdagget3734]

I say this to myself everyday. "Stay out of no man's land"

[@learningstock4783]

Brilliant guidance. You addressed one of the most common mistakes. Thanks

[@craigh5631]

Another awesome video by Lance!! Lance hits it out of the park again! I’ve done this plenty of times! Focusing on the A+ trades bigger instead of getting chopped up in no man’s land. Love the rules to give you a guide! Thanks Lance!!

[@LUKEMELIKIAN]

Thanks for the advice!

[@supanova4126]

Very helpful video thank you!!

[@dasfahrer8187]

Easier said than done of course. A lot of stocks break a few times on what looks to be a true breakout, or toss out a probe and then fall back into consolidation or pull a shake-out move.

[@justinsweet2232]

Taking new intraday high scalps are the best. Great advice and well said

[@rewritereality394]

Thank you

[@michaeldulieu7312]

Thanks, this is really applicable to my trading and has been a big source of frustration, the suggestions you made will make a measurable difference to my results as I implement them.

[@roberttarrant7646]

Thank you very much for this video. You crystallized my monthly report to myself for August. Onward and upward

[@andrewlouis1280]

Thank you 🙏

[@warwicknexus160]

This is the single most important trading video that I have seen. It is almost like Lance is talking to me directly because I am at the exact spot in my trading career that Lance is describing here. Love this video. Thank you Lance. Much appreciated.

[@traderryan713]

Right on. Specially in this market imo. Now if i could just adhere. High levels of discipline required.

[@shock80ey]

Thanks Lance, love you man.

[@joefeinstein6804]

Great advice especially since there are a lot of false signals in a range. Thanks!

[@justinstu2972]

First comment💪 but I love the rules that lance has set for no man’s land at 11:00 ish definitely need to set those rules in place. I trade after work sometimes 2 sometimes 3. So many times will I have to miss out on trading because the market is just in no man’s land and I can’t take that risk

[@yoginacharya2150]

Another great video 👏🙏

[@VarCoOp]

Thank you Mike and team for such an amazing channel ❤

[@djung958]

Great advice

[@manfredjoseph1869]

Great video, thanks a lot. One question on my mind: when you are in no-men‘s land on the daily then you only consider that for swing trades based on the daily chart. And in no-men’s land intraday then only for intraday plays. Or do you also refrain from intraday trades, when in no-men’s land on the daily?

[@TheOneLanceB]

The timeframe you’re trading on is the most important one. I won’t refrain from an intraday trade if it is breaking out intraday. Ideally though they all align and that is when trade might be particularly high EV (think of that TSLA daily chart example)

[@chilatelover]

Great concepts and rules. Thank you Lance and SMB. I noticed you plotted Bollinger Bands to eyeball your volatility. Do you folks use them to enter the breakout trades?

[@TheOneLanceB]

Ty! Nope! Don’t use them as a level, just as an indicator.

[@leeles]

Thanks Lance, this is very helpful advice and very specific with the examples you are explaining. Great!

[@tonymontgomery7708]

Amazing value this video has!

[@christinamccarter8869]

Great video! I can definitely see where a trader who has just had successes with a specific stock or commodity might fall victim to continued trading with it, even if the probability of it making another good move is lower. I’d be curious to know whether or not the opposite can also occur-where a trader has a very negative experience trading a stock, and becomes turned off to that stock in the short term.

[@davidedmundson8402]

Yes. Lance gave an example where a trader failed to take the breakout because he had made 2 unsuccessful trades in no man's land.

[@christinamccarter8869]

That makes sense. I was thinking about it more in terms of a very negative experience. I didn’t know if a more extreme reaction would cause aversion or revenge trading, but you could probably draw the conclusion that the former would be more likely to happen based on the example you pointed out. As a trading psychology coach, I tend to be more focused on how emotions impact trader responses so I watching these types of videos help, but I don’t always find the exact information I am looking for. Thank you for your input!

[@susanvabeach2187]

Thank you Lance. Im really stuck here in the past few weeks. Thanks for the clarification on these deadly chop ranges.

[@TheOneLanceB]

Welcome! Hope this helps!

[@adrianaraujo7236]

God bless you sir

[@sydkid4952]

Invaluable content, this is why SMB Capital is the GOAT of YT Trading channels. Thank for all you do Lance!

[@pablosdiveo]

So, Darvas box?

[@arnibah]

What about J 5 suited?

[@chest1987]

Dmn needed to hear this

[@johnotaran]

Great video ! This is my one of my major trading sins , I keep getting stopped out anticipating a break out due to the wicks or false breaks out of the box...and after a a couple of tried it does become annoying and as you mentioned you do tend to become more disheartened even the break out occurs...is there a way of avoiding the wicks and false break outs ? e.g buy only if the stock breaks out 20% above the box/no mans land ATR or wait for higher volume confirmation etc

[@TheOneLanceB]

Often the best setups work and don’t wick / false breakout. The probability of wicks / false breakouts increases when not enough consolidation or not a tight enough consolidation.

[@johnotaran]

@@TheOneLanceB Thank you for the valuable insights; they're truly intriguing! So, if I understand correctly, the quality of a stock's consolidation is influenced by its duration and the narrowness of its volatility. This is often accompanied by clearly defined support and resistance levels, which minimize the occurrence of price wicks.

[@TheOneLanceB]

@@johnotaranyessir!

[@JasRoss]

On a breakout play, I often like to see it break the level, come back on a short timeframe to retest and see the demand (buyers) hold for my entries. Sometimes you dont get that confirmation and it just goes without you, however, I feel more confident I am not going to buy into a false break trap and get stopped out.

[@razzy1476]

Good advice Lance …will take it on board! 😀👍☕️

[@TheOneLanceB]

Ty!

[@Dosti-zaroori-hai]

Love from India

[@Zenbeau]

5:32 what are you talking about bud? here you say to wait for the range to break. and it breaks out of the range and went nowhere. you'd have caught a bigger move had you gone long from the dip WHILE STILL IN THAT NO MAN'S LAND

[@8520456]

SMB team. This was a really good one.

[@marketmercenaries]

My plan: Make enough money Relocate to US Join smb as an intern ( the lowest level possible even though I'm well experienced) Say thank you to lance everyday for what he's doing on KZbin.

[@TheOneLanceB]

Ha ty!

[@marketmercenaries]

@@TheOneLanceB yay 🎉 you're welcome my man

[@richardbaxter7343]

This is the Darvas Box....

[@Drawn_Cup]

Don't diddle in the middle 👌

[@albdamnd]

Thou shalt not diddle in the middle

[@cchoi108]

So helpful. Also it makes such complete sense that it's really common sense. Kicking myself. Smh. Duh.

[@jackdupp2047]

Good video. Bad title. I was looking for the "terrible mistake." It was more of a discussion of how to succeed than a discussion of a costly mistake.

[@costam911]

❤❤❤

[@crazyhead1588]

I always tell myself don’t trade what you don’t know

[@Bravenheart_]

Me trading in No Man's Land is equivalent to lighting massive amounts of money on fire.

[@MorningViewz]

I love you

[@TheOneLanceB]

🙏

[@dhavalchapani6827]

look good in black shirt 😎

[@TheOneLanceB]

Thanks, bout time I dress up! :)

[@lightkirsche]

Informative : $2000 to get trained with SMB DNA.

[@arronlofton3324]

Peoples Champ!

[@7FigureTrader-com]

This totally validated my strategy. I add a box and I use the Squeeze indicator to plan for the next move out of a range. Been chopped up too many times trying to catch the bottom, only to have a stock reverse lower on me; it was a Bear Flag and not a bottom. Validation from a pro trader gives me even greater confidence in my approach. Thanks Lance!

[@n7ekg]

Please note that bear/bull flags are only about 50% reliable. Professional traders don't use them.

[@marketmercenaries]

My plan: Make enough money Relocate to US Join smb as an intern ( the lowest level possible even though I'm well experienced) Say thank you to lance everyday for what he's doing on KZbin.