Tuesday's trade sequence reminded me of this article from last year – Sometimes It Takes Multiple Attempts. Where the market reminds us that it doesn't give a damn about our expectations for a quick move from entry to the target. And that sometimes, it would rather play a bit first and see if it…
Pullbacks… a simple retracement structure depicted in textbooks as smooth flowing and simple to read. Reality though, is usually not so kind. Far too often these pullbacks will be a mess. Full of chop, false-starts and stop-outs. Or unexpected and sudden shifts in pace or volatility. Price action seemingly designed to confuse you and…
This image was posted on social media recently, to highlight the way that the opening range can help minimise early damage to your P&L. I received a message in response to the post: This has me curious. Did you trade it? Can you show us the trades? If you did stand aside, at what…
From time to time I get asked how I add to positions. That is, entering a new trade while the prior trade is still open. So I thought it might be a good idea to outline my response here. Then I can just link straight to the article in future. (Time management WINNER!) The…
Last week we looked at a session that caused me some troubles. See here if you missed it – Good Trading Isn't Just About Winning Trades. It wasn't a losing day. A "bad" day isn't necessarily a losing day. This one profited. Cycling from negative to positive and back again to negative and then…
