When not to trade?

Discussion in 'Trading' started by Jamie J., Aug 10, 2016.

  1. Xela

    Xela


    I do the same. (That tends to work out quite conveniently for me, anyway, given my time-zone.)
     
    #61     Aug 10, 2016
    speedo likes this.
  2. OK...my non-trading day criteria is part of the methodology.
     
    #62     Aug 10, 2016
  3. That's what I've been trying to tell Scat. It's all part of the method and has been for a long time. Thanks.
     
    #63     Aug 10, 2016
  4. d08

    d08

    Semantics but aren't we all here opportunists by definition?
     
    #64     Aug 10, 2016
    K-Pia likes this.
  5. Xela

    Xela

    I suppose it's pretty debatable the extent to which the labels "opportunist" and "grinder" are necessarily mutually exclusive. :)
     
    #65     Aug 10, 2016
  6. Sure, life is opportunity...bit some of us live more strictly than others...just like trading.:D
     
    #66     Aug 10, 2016
  7. Difficult to be sure exactly what you're asking, but let me try to explain with this example....

    Let's say the ES makes a "matched low @ ____", but you decide to not take the trade (assuming your strategies include playing "matched lows") because "the RSI isn't oversold enough". The RSI in this case is a "filter". The fact that it's not oversold is objective by traditional understanding... whether it MATTERS in this case is "subjective".

    If it turns out that the "matched low" criterion was correct... passing up the trade because the "RSI was not oversold enough" was a mistake.
     
    Last edited: Aug 10, 2016
    #67     Aug 10, 2016
  8. Cswim63

    Cswim63

    To trade the way I trade, I believe that things come back to be shot at a second time. If I miss it, so what? There's always another pattern, another instrument. That's not an excuse to be lazy. It just means to stay loose. My worst trading problems come from being locked in and then new information comes in saying this trade has lost its mojo. That means either contrary selling/buying or just chop or time running with no progress. If something is telling you this trade just isn't working, you probably should beat your stop.
     
    #68     Aug 10, 2016
  9. I must ask the question...how many of you disregard your "book of setups" and still enter the price action momentum sometimes because it's too irresistible? I haven't done this in many years. I consider myself a grinder.
     
    Last edited: Aug 10, 2016
    #69     Aug 10, 2016
  10. Redneck

    Redneck


    Quintessential discretionary trading

    RN
     
    #70     Aug 10, 2016
    slugar and KDASFTG like this.