Today's session ended in a similar fashion to the previous Friday, with a triple distribution trend day to the upside. Despite great efforts, sellers were unable to take advantage of the ON weakness.
Execution in trading tends to be highly personal, as traders have have different strategies, risk tolerances, and goals. This means that a strategy or approach that works well for one trader may not work as well for another. My approach emphasizes the contextual aspect in order to provide traders with the information necessary for them to implement their own strategies.
For instance, today, 3962 was the last intraday downside target, indicating it's not favorable to initiate new short positions in that area, particularly with VIX not supporting the weakness. By acknowledging this context, traders can now search for long entries based on their own systems and have potential upside targets (3989/4008) to utilize, and be able to quickly recognize when they are incorrect (such as a break and hold below 3962 with VIX < 18.04). When you know the targets (3989/4008, 27/46 handles), you can easier define your risk.
In summary, by utilizing context to locate opportunities and identifying where your idea is invalidated, and by utilizing levels as potential targets, traders can effectively define their risk.
It's a common problem among traders to take profits too early and hold on to losing trades for too long. As mentioned above, one solution is to establish clear profit and loss targets before entering a trade, and then stick to them. This will help to avoid impulsive decisions based on short-term market fluctuations.
To keep emotions in check, it's important to adopt a systematic approach as much as possible for a more level-headed approach.
Yeah was one of em (shorty) definitely had weight /added when sideways before final push. Would do it again most days, cant win em all!
Thanks smash! HAGW!
Thank you Mr Smash.
May I know if it is possible for you to write something about execution of trading?
Execution in trading tends to be highly personal, as traders have have different strategies, risk tolerances, and goals. This means that a strategy or approach that works well for one trader may not work as well for another. My approach emphasizes the contextual aspect in order to provide traders with the information necessary for them to implement their own strategies.
For instance, today, 3962 was the last intraday downside target, indicating it's not favorable to initiate new short positions in that area, particularly with VIX not supporting the weakness. By acknowledging this context, traders can now search for long entries based on their own systems and have potential upside targets (3989/4008) to utilize, and be able to quickly recognize when they are incorrect (such as a break and hold below 3962 with VIX < 18.04). When you know the targets (3989/4008, 27/46 handles), you can easier define your risk.
In summary, by utilizing context to locate opportunities and identifying where your idea is invalidated, and by utilizing levels as potential targets, traders can effectively define their risk.
Thank you. I always fail as a result of taking profits too early while stopping losses too late
It's a common problem among traders to take profits too early and hold on to losing trades for too long. As mentioned above, one solution is to establish clear profit and loss targets before entering a trade, and then stick to them. This will help to avoid impulsive decisions based on short-term market fluctuations.
To keep emotions in check, it's important to adopt a systematic approach as much as possible for a more level-headed approach.