I’d like to expand upon Wednesday’s social media post. And share it via the blog and newsletter to ensure this gets to a wider audience.
Because it’s an important concept. One I believe critical for your trading success.
Part of good trading comes from quickly identifying and avoiding those price sequences which contain potential to destroy your edge.
Opening range chop is one area that provides me with an instant WARNING sign.
Let’s step through my thought process during this rather challenging (and somewhat frustrating) opening sequence…
Repeating the key point:
Part of good trading comes from quickly identifying and avoiding those price sequences which contain potential to destroy your edge.
Opening range chop is one area that provides me with an instant WARNING sign.
Spend some time to think about what price sequences cause you to typically underperform. And consider implementing plans to stand aside or limit engagement, until price has broken clear into more favourable conditions.
Happy trading,
Lance Beggs
Great trading Lance & thanks for a very informative blog.
I noticed that you significantly increased the 1st Lot profit take on your first Short (pre-empt), did you use a separate ATM for this Trade or were you quick enough to drag the order down? It’s not often we see such a large 1st Lot profit take.
Cheers
Steve.
Good observation. The order was dragged lower. I’m trying to do that more when there is expansion from a range or some kind of volatility contraction. P1 has been underperforming a little too much.
Lovely!
I do experience this from time to time.
Finds myself trying to predict the market instead of understanding its language by stepping back and compose myself in order to act accordingly
I need to remind myself of this often. It’s all probabilities and I can never know for certain what is going to happen. So it’s ok to step back and wait, during those times when the degree of uncertainty rises.