This weekend I read some more of Dr.B's book, Enhancing Trader Performace, and realized that I'm still missing a lot to my game.
I think I work hard, but I need to work so much harder. I need to analyze my trades more; moreover, what time did I place the trade, where was the trade at in relation to the POC and trend for the day, and how did I do in terms of P/L on different types of trading days when comparing my trading performace on range days, trend days, and reversal days.
Something I need to start considering more when taking my signals is the time of day. There are key time periods during the day that have a high probability of being a time point where reversals occur, and time periods where the price has turned from range bound to trending. I will be looking at the program trades that occur at 6:45am, and at time periods 7:15am and 8:30am as key reversal points. If the price is making a new low or high of the day with volume and all the indices are participating and the time is AFTER 9:30am, then this could be a good sign that the afternoon session could turn into a trend. Also, watch out for the 12pm reversal on big trend days, this always seems to be the time point were big money exits for the day.
Sunday, March 11, 2007
Learnig from Dr. B's book
3/11/2007 10:15:00 PM
Posted by
HPT
Labels: enhancing trader performance, program trades, Time reversals
Labels: enhancing trader performance, program trades, Time reversals

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