Monday, 11 August 2014

It's All About the Context, Still !!

Thee key to discretionary trading is context. A pattern "works" sometimes and sometimes it doesn't. The distinguishing feature is the context.

I woke up with the ES in Asia up about 4 or 5 handles. Firmish. So I was looking to buy the DAX around the open if I had something to lean on. DAX opened a bit too low I thought  so I was there at the bid on the open and filled.

My target was the nearest resistance as the DAX would then catch up with the ES. Q.E.D.

This stuff is not complicated. I keep it simple. It just needs the hours to create the belief.

I'm done for the day as a discretionary trader. Flo is taking over the heavy lifting. We have a full house here in France for the August summer and we'll be off to the mountains for some tobogganing once the sun burns off the clouds.

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