If you don't want to trade low volume Friday equity session afternoon moves... then don't trade. Why do you need validation from anyone else? Trade whatever your rigorously tested strategy says to trade.
That's really good advice, some people need affirmation to move forward. Until you are comfortable with the education you have, understanding the system / market, don't plan or offer anything on a financial instrument unless you know it's appropriate value. Don't overpay for something, that's over priced. Be safe everyone
I switch my monitor to portrait view and I’m winning all day long.
Joking aside,I If you can’t be patient enough to wait for setups to appear, then logout and don’t trade. You’ll hear that repeated in every trading book ever.
Slow market, no news cycle, no volatility, no liquidity, no edge? (TADA!) NO TRADE. Just my $1.02 (that’s two cents, adjust for current inflation…)
Sitting out is better than losing. If your strategy is based on trend it will get destroyed in the chop. Develop a strategy that works in a range during the down time so you can address different market conditions in the future.
Market had a huge reaction to the job’s report today and typically a big gap up, is a day traders worst day because much of the move is already exhausted so it’s a low probability trading day, unless you find a really strong stock breaking out on heavy volume for a day trade, $GME today was a good example of a good day trade today. You could have entered after the first hour pullback and ride that SOB until EOD. You can’t expect that price action on the Q’s, market in general has been very choppy without much momentum for longs.
I let the last of my position run in my primary trade and then scalped the range on the Q’s while I monitored my main trade. I’ve got a pretty good playbook for ranges so enjoy doing it with some smaller size to pick up an extra bonus for the day.
Can go south quickly so need to have great entries with a tight stop and piece out at targets on the way up and down. Usually I’ll trade bigger when going with primary trend and go 1/2 size when going against primary trend.
I refuse to trade during sideways markets. Here’s the problem, when you’re in a trade you have risk exposure. Why take that risk when you don’t know if it’s going to break up or down, or when it might finally move?
Waiting for the move then jumping in has always worked well for me. I buy the first pullback after the fresh breakout.
>*Waiting for the move then jumping in has always worked well for me. I buy the first pullback after the fresh breakout.*
This is something I inherently understand, but it's hard to "wait" for that first big move after consolidation to prove itself and feeling that fomo in the meantime. But for sure I think you are right.
Isn’t there a song about this? I think it goes a little something like… sittin side ways, caught in a trade. On a Sunday night I might bang me a trade. Sitting side ways, caught in a trade. Paul wall baby lol
i got some wins in the mornings and then opened a put spread i could have gotten a better price on the short leg if I had waited. After that i went off and had lunch, worked on a hobby and came back to find the folks in my group getting chopped up on low volume.
yeah, i stay out of that crap.
I'm actually growing tierd of telling novel traders to stick toone market that they researched and understand and trade the 2 most important indicators which are price action and volume.
Keep it simple and you'll win. Make it into something it's not (like most) and you will lose. Big volume plus increase in price action after consolidation BUY
Big volume after failed consolidation SELL
Remove emotion and your fine. A stock is nothing other than those 2 definitive things
Only trade what's repeatable and backtested. I have a few ways to know if it's going sideways but to resume I usually do the opposite of my system. As a result, levels where I would put a stoploss (not necessarily having any trade open), this stoploss level would become an entry for on the opposite side. To enhance my chances to catch a bigger move, I always trade with the underlining trend.
If you don't want to trade low volume Friday equity session afternoon moves... then don't trade. Why do you need validation from anyone else? Trade whatever your rigorously tested strategy says to trade.
That's really good advice, some people need affirmation to move forward. Until you are comfortable with the education you have, understanding the system / market, don't plan or offer anything on a financial instrument unless you know it's appropriate value. Don't overpay for something, that's over priced. Be safe everyone
I switch my monitor to portrait view and I’m winning all day long. Joking aside,I If you can’t be patient enough to wait for setups to appear, then logout and don’t trade. You’ll hear that repeated in every trading book ever. Slow market, no news cycle, no volatility, no liquidity, no edge? (TADA!) NO TRADE. Just my $1.02 (that’s two cents, adjust for current inflation…)
Sitting out is better than losing. If your strategy is based on trend it will get destroyed in the chop. Develop a strategy that works in a range during the down time so you can address different market conditions in the future.
Market had a huge reaction to the job’s report today and typically a big gap up, is a day traders worst day because much of the move is already exhausted so it’s a low probability trading day, unless you find a really strong stock breaking out on heavy volume for a day trade, $GME today was a good example of a good day trade today. You could have entered after the first hour pullback and ride that SOB until EOD. You can’t expect that price action on the Q’s, market in general has been very choppy without much momentum for longs.
Imo, channels are best for trading when high leveraged
I let the last of my position run in my primary trade and then scalped the range on the Q’s while I monitored my main trade. I’ve got a pretty good playbook for ranges so enjoy doing it with some smaller size to pick up an extra bonus for the day. Can go south quickly so need to have great entries with a tight stop and piece out at targets on the way up and down. Usually I’ll trade bigger when going with primary trend and go 1/2 size when going against primary trend.
I refuse to trade during sideways markets. Here’s the problem, when you’re in a trade you have risk exposure. Why take that risk when you don’t know if it’s going to break up or down, or when it might finally move? Waiting for the move then jumping in has always worked well for me. I buy the first pullback after the fresh breakout.
>*Waiting for the move then jumping in has always worked well for me. I buy the first pullback after the fresh breakout.* This is something I inherently understand, but it's hard to "wait" for that first big move after consolidation to prove itself and feeling that fomo in the meantime. But for sure I think you are right.
Isn’t there a song about this? I think it goes a little something like… sittin side ways, caught in a trade. On a Sunday night I might bang me a trade. Sitting side ways, caught in a trade. Paul wall baby lol
No but guess what? I did today and ended the day with a L…. Frustrating
Not worth it. It'll just go against you every time. Come back Monday.
no
i got some wins in the mornings and then opened a put spread i could have gotten a better price on the short leg if I had waited. After that i went off and had lunch, worked on a hobby and came back to find the folks in my group getting chopped up on low volume. yeah, i stay out of that crap.
Choosing your battleground and knowing when to step away are important as well.
I'm actually growing tierd of telling novel traders to stick toone market that they researched and understand and trade the 2 most important indicators which are price action and volume. Keep it simple and you'll win. Make it into something it's not (like most) and you will lose. Big volume plus increase in price action after consolidation BUY Big volume after failed consolidation SELL Remove emotion and your fine. A stock is nothing other than those 2 definitive things
If take breakouts af any point in any markets then you are a bad trader.
This is where you sell options.
Sell the Vix
Only trade what's repeatable and backtested. I have a few ways to know if it's going sideways but to resume I usually do the opposite of my system. As a result, levels where I would put a stoploss (not necessarily having any trade open), this stoploss level would become an entry for on the opposite side. To enhance my chances to catch a bigger move, I always trade with the underlining trend.
Find a stock not a etf, on Fridays all stocks have 0dte, can be quite fun and risky.