Newbies, print this and put it over your trading station. boring = good trading. Not a casino. Well done Mav. [Mav, IMO from a global perspective your 10:30 central time is actually when good trends can reveal themselves due to eurozone. Consider trades on/after that time but not before. Can be seen if our news releases equal the noise (bouncing aimlessly on globex close price until EU close. Throw up the hard line at 10:30 central and it is involved in high or a low of the day session more often than not.]
Good point Maverick.. I hope we notice that the metrics are not that terribly difficult to achieve when you focus on proper trading mechanics instead of looking for profits alone. Funny thing is those profits will show up when those metrics are being met... We have many daily that are eligible for a refund/rollover making really no money but meeting the performance criteria. We are very proud of these small achievements as they signal that the trader is showing sound trading fundamentals. mp
satchel- you are right.. this business can be so boring...it's a grind, you gotta get into it. The old hurry up and wait line.. ha mp
Yes but I have no feel jumping into the trading session that late. Most of the stuff I trade, oil, bonds and FX move before 10:30. Indices tend to make strong moves off the Europe close but I avoid the indices at all costs. BTW, that's not to say I don't take trades at 10:30, usually if the market is dead all morning with no volatility or no movement, more often then not you are going to get a choppy session. When there are big moves at 10:30 there is usually a setup off the 9:00 data or the 7:30 data. Today we had none of that.