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Today we look at RSPP on the 2 minute chart right after the open. Clay alerts a possible rubber band and a previous level of support in a bear river. Using this information we discuss why having a stop loss below this level would not be smart. After polling the room for an entry point, stop loss and initial target, we scroll the chart and watch what unfolds. We use a slick willy entry (entry level a few cents below a form of resistance or support) and see that many are filled. Clay also talks about different ways to enter (such as break of the low of a previous candle, etc.). After finding out who mitigated and who didn’t, we see that the chart reverses and continues higher which would stop out everyone who is disciplined. While this isn’t a ‘rip your face off’ type example, building solid habits is essentially in trading and it is imperative that we all abide by that. The one time we do not follow the rules is the one time we will really get cooked.