Not really, but maybe it should? I've heard many traders who said that they're just sitting on the sidelines waiting for a better opportunity and I think that's great. Personally, I think the current market still offer something on a daily basis. The key is to just manage expectations and don't except another 60 point range after the market just made a big move as a consolidation is common after a larger move. I am taking a break today, though. No trading during low volatility holidays.
OK. I don't mean not trading for weeks (I think some people - myself included sometimes - are just trigger-shy), just seeing at the beginning of a day (as you mention today because of the holiday) and saying... meh... I'll take a break. Particularly, because, if I understand correctly, your stops (like mine) tend to be on the small side, so I was wondering if on days where you don't see a potential minimum of X points, you just took a break (because if the stops are about the same, but the targets are much smaller, it hurts the R/R). Your market statistics are always much appreciated, btw.
I understand. Personally, I'm trigger happy. I definitely think I could improve by reducing my trade quantity and increase my trade quality. Generally, as long as I feel I have a sense of where the market is most likely to go, I will engage with the market. The easiest play every day is to exploit the larger move / daily range. Once that is set it gets more difficult as you'll often have random (?) oscillations around 'fair value' with poor R/R (unless the market moves from one extreme to another). Just my humble view of course. I'm still learning.
you switch markets when there is no movement in es or zn or xyz, don’t force trade is the key. money is money, don’t matter what product type.
that''ll do for now Out here +26 ES points Holding NQ and YM longs. Still expecting a big up leg on the whole market soon, but having a freaking outstanding run now and gotta lock in some gains. Will add ES long back on if we get a dip
covering half nq here. I will close the other half when we rally another 300ish points from here. Have to pop out. Back in a bit