Given the unchanged context, the game plan remains the same, focusing on observing Wednesday's upper distribution. Its upper end has unfinished business in the form of a weak high.
Smash how do you deal with these types of days. Low volume, narrow range situations. I normally try to extract 10 or more points but recently there have been a lot more sessions where we typically rotate around the opening price or within the Opening Range/IB. "Neutral or Normal Day" day types (market profile vernacular)
When volatility is low, the best course of action is to exercise patience and maintain discipline. Not trading is also a position, and a skill in itself. Typically, lower volatility leads to fewer opportunities. In such market conditions, traders are usually throwing away their money out of boredom. Then, when volatility increases, typically presenting more opportunities, their confidence and execution capabilities have been compromised. It's important to recognize the prevailing market environment and play defense on days like today, transitioning to a more offensive approach when opportunities are higher.
This serves as a prime example of why setting daily profit goals is completely useless. Traders will be forced to play offense on days like today, which is counterproductive. Conversely, during optimal conditions when opportunities are higher, traders risk closing the shop too early simply because they've met their goals.
Thank you 🌼
Thank you, buddy! Tough day but green at the end of the day.
Smash how do you deal with these types of days. Low volume, narrow range situations. I normally try to extract 10 or more points but recently there have been a lot more sessions where we typically rotate around the opening price or within the Opening Range/IB. "Neutral or Normal Day" day types (market profile vernacular)
When volatility is low, the best course of action is to exercise patience and maintain discipline. Not trading is also a position, and a skill in itself. Typically, lower volatility leads to fewer opportunities. In such market conditions, traders are usually throwing away their money out of boredom. Then, when volatility increases, typically presenting more opportunities, their confidence and execution capabilities have been compromised. It's important to recognize the prevailing market environment and play defense on days like today, transitioning to a more offensive approach when opportunities are higher.
This serves as a prime example of why setting daily profit goals is completely useless. Traders will be forced to play offense on days like today, which is counterproductive. Conversely, during optimal conditions when opportunities are higher, traders risk closing the shop too early simply because they've met their goals.
Agree. Having the ability to sit and wait is priceless.
Sellers can't even run some stops below 5003 😭
Thanks!