Session Management – Should We Use Daily Profit Targets or Not?

Email Question: Hey Lance, I have had argument after argument with people about whether it is the right thing to do, to have a daily/weekly profit target where you walk away. I don't think it's correct to do, as long as you can maintain focus. I tend to subscribe to Mark Douglas's way of looking…

Expectations for the Pre-Holiday Session

For intraday traders… the following outlines my expectations for trading the last session before a long weekend. I always expect a narrow-range, low volatility and low liquidity market. I monitor it with an expectation of having no trades, UNLESS the market can prove that it wants to make a strong directional move. Only then will…