Monday, October 14, 2013

-12pt Gap + Block Strength on Lows = Early Rally Within Tight Rand till 2nd Ti

-12pt Gap + Block Strength on Lows = Early Rally Within Tight Rand till 2nd Ti. We broke out of the range later in the day slowly and drifted higher. Very Thin trading today on NO news. We can expect the same tomorrow as there is no news releases until Thursday.
Key Trade of the Day:
Trade Review :

ADJUSTMENTS & OBSERVATIONS:
On TRD 10+ Gap days, Consider Bailing on whole position instead of taking halfs off.

Be Very Quick to cut out of positions that stall or dont move in favor immediately. You can always reenter even at a worse price without chasing.

On Range Gaps - Be Patient and look for Liquid Entries at extremes.

Stay Focused after a good start and look for opportunities. Forget your P&L and focus on more opportunities.

When you get off to a rough start lower lots and be patient.

Have stronger and clear Background before entry to give more patients, confidence and trust in your entry.

Never Rush the Open - If you miss the open then sit it out or wait for an ideal setup before entering.