One invaluable skill in the world of forex trading is knowing exactly when to leverage your advantage. This could mean strategically increasing your reward-to-risk ratio by building on winning positions or perhaps just increasing your trade frequency.
Mastering the knack of pressing your advantage is certainly beneficial, but it’s important to tread carefully—this strategy can backfire if not handled with care. Some traders fall into the trap of growing impatient or desperate, eager for the market to shift in their favor immediately.
Take, for example, a trader acting on impulse. He might continue to add to his position in a sideways market in a bid to maximize profits, only to end up stopped out and turning what could have been a winning situation into a lost opportunity.
Contrastingly, a savvy trader understands the value of pressing his advantage only in a trending market. By scaling into a winning position, he strategically adds more when the price pulls back and adjusts his stop accordingly.
Think of trading like the art of romancing someone you’ve admired from afar. You need to know when to engage in lively conversation and when to listen closely, letting the other person guide the dialogue. In both cases, success hinges on being observant, patient, and practicing self-control.
Ah, self-discipline again!
I’ve touched on this subject as often as Kendrick Lamar called out Drake during his iconic Super Bowl halftime performance in 2025. But it’s a crucial concept, especially when increasing your trading volume can heighten risk levels.
For those just beginning to press trades—or thrill-seekers adding trades for the adrenaline rush—I’ve devised a three-step process that could be just what you need.
1. Establish rules for pressing trades
Before you even think about pressing a trade, having a solid set of rules is essential. Consider why and when it would be most advantageous to press, and most importantly, how to do so safely. Reflect on questions like these:
- "In what scenarios should I scale in and add to a trade?"
- "When is it better to hold back?"
- "How should I adjust entry points and stops based on varying situations?"
A good starting point for establishing these rules involves reviewing your trading journal to find instances where pressing a trade could have been beneficial.
2. Integrate this practice into your daily routine
Once you’ve set your rules, the next step is incorporating them into your trading activities. A practical exercise is visualizing various scenarios before the market opens. Jot down how you’d respond to each based on your established rules.
This preparation ensures you’re ready for the day’s specific circumstances, minimizing impulsive actions and reducing errors. With consistent practice, this way of working will become second nature—akin to remembering to take out the trash regularly, avoiding those gentle yet persistent reminders from a loved one.
3. Reflect on your trading at the end of the day
The end-of-day review is crucial to understanding which strategies are effective and which need refining. Assess the market’s movements and your performance, pinpointing successes and areas needing improvement. Adjusting and refocusing your approach daily is vital to mastering when to press a trade.
Like any worthwhile pursuit, honing this skill requires dedication and effort. By embracing it as part of your daily routine, you’ll gradually internalize this strategy as one of your strengths, moving closer to becoming a consistently profitable trader.
