Non Traders Click Here

Wednesday, October 30, 2024

 Yesterday I did a pretty decent job with my management and risk control. There were some bad trades in there again, too aggressive, too high risk. But at least I wasn't being stubborn and selling it out at the lows. You have to adjust your strategy when the market is in balance. Which is was yesterday and it is today. You also need to get better at taking those emotional sellers supply as opposed to missing it and then buying for continuation. These work sometimes but not enough to build a business upon. 

These types of entries are more likely in a range environment, in an uptrend environment you need to be more aggressive and in a down trend environment you will get run over. Know the trend of the day, the 1 minute trend and then know the context of the overall market via 30 min profile. Sometimes the market can be in a balance or range situation, but near the top of the range and the day's momentum could be to the downside as those longer term buyers are liquidating their inventory.  

No comments:

Post a Comment