STICK TO EXIT/PROFIT TARGETS AS SOON AS IT HITS TARGET CLOSE THE TRADE NO HESITATION

STICK TO THE PLAN LET THE TRADE RUN


EMOTIONAL CAPITAL TAKES MONTHS TO BUILD AND SECONDS TO LOSE PRESERVATION IS PARAMOUNT



THERE WILL BE NO SETUP THAT TELLS YOU EXACTLY WHAT TO DO - USE YOUR INTUITION




Tuesday, 24 July 2012

Grinding/Consolidation periods

Recognising the type of period the market is now in is crucial and as I found out yesterday if you try and adopt 1 style of trading to all price action you can get destroyed.  When price is not moving low volume, no swings you need to either scalp for smaller gains or place a more positional trade with a wider stop and leave.  You are not going to get the same sort of orderflow in these periods traders aren't going to be getting trapped and price is not going to be very volatile.  YOU HAVE TO RECOGNISE AND ADAPT
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