NEVER HAVE NEWS BIASED EXPECTATIONS

Lots of welcomed volatility in the past few days. Many times when we have news of such entity like war threats, traders tend to think that the market "should" move in a certain way, and they rush to buy or sell believing that it's just gonna go as they thought. Maybe they heard some analyst opinion on tv, or simply because the market is "overbought", so this is the news catalyst that will drive a retracement or so.

I used to do that as well, many times. And I got ran over so many times.

I used to listen to expert traders real time commentary, read the news, read fundamental analysis of what central banks are doing, always be informed and try to make sense of what what happening in order to have a higher edge in my trading.

But guess what, I trade so, so much better when I just don't do any of that any more.

Just read the market what is doing right now. In this moment. Are they buying? Are they selling? Is there a trend in place? Is there a moment where I can catch a move with a limited risk? That's all you need as a trader.

This morning I only took 3 trades, one small loss and 2 winners so far, up about 15 points. I might look for more later, but I'm happy for the first 15 minutes of trading.

Keep a low profile, low expectations, NO BIAS, and manage risk.




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This site is for educational purposes only. Past results are not indicative of future returns.

Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.