We show that a three-level atom in the cascade configuration can be st
ably trapped and cooled in one dimension by an intense bichromatic sta
nding wave. At the two-photon resonance, rectified dipole forces resul
t in a deep potential well which can be used to localize the atoms in
space. In the vicinity of the rectified potential minimum, the spatial
dependence of the dressed state energies can lead to a velocity depen
dence of the force which produces damping of the atomic motion. Consid
eration of the heating effects of momentum diffusion indicates that co
oling and stable trapping at low temperatures is possible in such a bi
chromatic field.