What happens next? They highlight the need for precision and timing skills.
The arch-nemesis of the directional trader? Efficiency. Periods when all known information is reflected in the price. It's unlikely price will move meaningfully to profit from. The trouble is, without an awareness of when market efficiency falters, most traders are firing shots in the dark, hoping to catch these lucrative trades. However, their shots are aimless.
It's a challenge because you're not pulling the strings; you'll ride along on the coattails. Take Monday The first attempts to enter a trade to erupt to the upside were in vain. You can see the buy entries and subsequent exits in the chart below. The reason to exit is not a 'gut feel'; it's market evidence-driven.
Psychology Moneymanagement Prices
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