What do you mean by "2nd entry short price action"? Do you mean why do I try a short immediately after a similar short?
Think he is referring to the weakened upside move after a move down . I referred to it earlier as divergence and he calls it second entry short.
Somebody mentioned something about having an opinion is bad. Well, when scalping, i mean really scalping a tick or two, then i guess it's all about being mindless reactionary..but try to capture moves a bit larger intraday, a few points 9 points how can you have "no opinion" on direction? it's not possible
http://priceactiontradingsystem.com/day-trading-second-entries/ just taking a 2nd entry short with the mild down trend on 2000 tick ES bars at around 10:14 and 10:44 (see blue circles)
YM needs to get a lot greener here..ES needs to retest highs here if we are to selloff later today, i think we're talking about 4 points ES to retest high, very doable
opinions get in the way, unless you objectively are looking at the overall big picture trend, support/resistance and context, but emotional opinions not tied to price action will hurt results. The 9 point moves yesterday were well defined short term price action trends.
an opinion is not bad but having a stong bias will cause you not to listen to what the market is saying You have to remain objective and be able to react at any second if conditions change while at the same time having discipline and patience to hold to predefined entry and exits. This is where most fail because they lack a trading plan.