The /NQ is oozing with opportunity this week. Big ranges and lots of intraday rotations mean plenty of ways for quality trade pictures to present themselves. The issue for yours truly is sticking to only trading the most “sure” or quality trading pictures. It comes down to impulse management, structure, and patience.
My trades were in the green today, but my performance is still below my desired win rate. I see two opportunities where I can increase the win rate. The first is being extremely selective when qualifying a trade and the second is recognizing when trade is “local-to-local” chop and if caught in said chop then giving my position just a bit more room once it is wrong which could allow me to scratch the position instead of it being a loser (see trades 5 & 9). This tape reading skill, knowing when the action is other timeframe (OTF) verses local-to-local is rarely taught by the “educators” mainly because it is difficult to present on a chart or with words. It is an order flow/tape reading skill few properly understand. Definitely worth giving some thought to, but definitely not a ticket to loosen risk management much. Developing…
Here’s my full disclosure trade set:
I joined @RC on the YGE long and bought a very small TSLA YOLO today, otherwise I stayed put.
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better management on 5&9, recognizing the transition to local-to-local chop puts today’s win rate to 77%
RAUL, any thoughts on jumping back in bed with RVLT? She bounced hard off of 2.41
I think about it all the time, I might miss the next nice move in RVLT. I went and did too much research and now I really dislike the company.