100 % agree, but can that be known in advance? I recognized the chop early on, but had a hunch we'd see more fireworks later in the session. I was wrong. I'm sure a scalper would do well on a day like today, but for my style, it's not a good day to trade.
No but after the first 2 hrs of all chop thats it for me unless there’s a massive move than i can make some quick counter trades off . Many times i walk away and call it a day . They dance every day and I’ll be back the next day . Sitting all day in chop sessions affects your psychology and can affect your trading with negativity the next day . It’s one of many rules I’ve learned and stick buy over the decades .
Good post. A common thread among great traders I've read about in Market Wizards goes along the same theme. Patience. Not trading every day. Waiting. With an 18 point RTH range this was the years tightest range so far.
IB closed basically where it opened, as well as traded a fairly equal amount above and below 5 min OR = trade both sides but don't hold very long:-
Trump on Fox News today repeating Kremlin talking points and blaming Biden and Obama for the Ukraine war. God, I'm tired of this guy.
Was there news on NQ? Bear murder algos at it again. Outside Day potential - especially with yesterday's narrow range.
Already an Outside Day. Let's see if there's more above yesterday's high. Should see 6480 at least. Quite the candle, there.