Trade Management

The DAX open never behaves the same way twice, and that’s the first thing you have to make peace with. Some mornings it gaps, spikes, reverses, or chops sideways for an hour before it commits to a direction, other mornings it barely moves at all, as though it hasn’t had its coffee yet, and every so often it’s clean from the first bar. There’s no way to know in advance which version you’re getting, and that uncertainty is usually my cue to stay out. There are always exceptions, but the safer approach is almost always to sit on your hands and let the move come to you. ...

Here is another example of a trade using the strategy from Buy the dips, sell the rallies — almost the same setup, but the result could have been better. The entry was fine. The problem was the exit: no target, and an emotional decision to get out early. The trade — M1 entry M1 — price rejection at Day Open with Inside Bar (IB), Acceleration Correction visible in eWaves, 3.20R exit ...