Hello,
As I mentioned on another thread, I've been trading for over 2 years now and am starting to see progress. I am trying to cut out the mistakes and keep disciplined regarding losses. I rarely post on here but have come to the conclusion that I should be using the forum more to assist my development so with that in mind, I have a question that I'd appreciate some feedback on please.
I have it in my head that I shouldn't trade outside of the 10 min pre-off timeframe. Yesterday, I traded some races 25mins out thinking that I can spot where the market is going earlier and therefore take full advantage. When I got it right, I felt clever because it was a shrewd move, when it went wrong I blamed myself for trading too earlier so really what's the general view on this?
Is it a strict no no or do some of you trade 20mins or so out? I assume the answer is dependent on your skill level but thought if most say it's a bad move, I'll just stop doing it.
Inside 10mins.
For me it's a liquidity question. Getting into the market is easy, getting out on low liquidity not so easy. So I'm more concerned about that aspect of the market. If I get into trouble can I dump my position without chasing the price out.
Therefore your question is loaded somewhat to your strategy and stake.
Therefore your question is loaded somewhat to your strategy and stake.
Thanks for that Peter,
I can think of many a time that there has been large gaps in the prices or tiny money available so I know exactly what you mean.
I suppose I should cut it out but I just keep thinking that I've missed the opportunity when at about 7 mins for instance, the fav has come right in and the 2nd fav has drifted out.
But yes, I will remember that liquidity is the issue if I trade too early.
I can think of many a time that there has been large gaps in the prices or tiny money available so I know exactly what you mean.
I suppose I should cut it out but I just keep thinking that I've missed the opportunity when at about 7 mins for instance, the fav has come right in and the 2nd fav has drifted out.
But yes, I will remember that liquidity is the issue if I trade too early.