Question for Grob/Hershey...
- Thread starter makosgu
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Fridays before a holiday, Fridays during summer, Fridays in general. I feel the end-of-week tendencies are present all the time to various degrees. It doesn't change the monitoring method, of course, but knowing it's a Friday gives me a heads up about the prospect of taking off early.
That's all that I meant. Nothing groundbreaking.
An hour left on a Friday with the day going into a FTP. Zoom out to the larger context and you see volatility shrinking at the RTL of the ST and FBO/FTT on IT as a pathway. . . . The money-making skill that is always on the table is that of partnering with the market. You are doing your part, which includes monitoring. The market will do its part, which is to choose the timing.
I traded YM for a long time and at first I tried just watching it alone but I soon found out this was a mistake. Many times you will see YM breakout but ES will sit there bouncing off the high again and again and may or may not follow but it is not safe to enter YM until it does. Many times ES will be strong but YM will be lagging and sluggish and ES will soon slow down and reverse. Lack of confirmation is actually a leading indicator if you think about it.
So the day ended with a non-beginner BO of the FTP. The level of participation by others just wasn't there to present the lowest risk opportunity for a beginner. The weekend's prep work for Monday is light. It usually is.
The obvious place to start is to consider continuation or FBO for Monday.
Where are we in the LT?
Where are we in the IT?
Where are we in the ST?
What does continuation do to the possibilities for each?
What does FBO do to the possibilities for each?
We know where we operate runs ahead of the participants on all of the above fractals. This is not a claim that trading is a competition. It is acknowledging where we fit in the workings of the market. By knowing where we fit, we see the immense flow of what's available to us every day. We are in the process of learning how to extract for ourselves. Have a good weekend.
The obvious place to start is to consider continuation or FBO for Monday.
Where are we in the LT?
Where are we in the IT?
Where are we in the ST?
What does continuation do to the possibilities for each?
What does FBO do to the possibilities for each?
We know where we operate runs ahead of the participants on all of the above fractals. This is not a claim that trading is a competition. It is acknowledging where we fit in the workings of the market. By knowing where we fit, we see the immense flow of what's available to us every day. We are in the process of learning how to extract for ourselves. Have a good weekend.
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