rather simple question. what do you do (traders) when we open like today and the first 20 minutes or so is just a free fall. i have stayed out of it because well there was no setup, anybody have a good method of trading such opens?
oh! trading plan? you mean some sort of orderly method of doing what i do? wish i thought of that. yes i do have a trading plan, that's why i do not jump in head first. although i am looking to develop and learn, that's why i posted.
on days like these, what i usually do is locate my hot key sell button, tape it to the keyboard while shouting : allahu akhbar! allahu akhbar! for abt 5 mins. i made money
If you have a method and have good reason to be confident in it, and it gives you a setup, then take it. If it does not give you a setup, then there is nothing to take.
well that's what i'm saying... i dont have a plan to trade 100pt drops out the open. maybe i should develop one? or maybe someone can share? didnt trade it because theres no plan, feel like i keep saying the same thing over in these threads. im asking what others do when such a thing occurs.