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Because we are above the most recently accepted values below. The most recently accepted values are yesterday's VPOC and value range. Barring any news, the market, generally, likes to check prior accepted prices before it has the confidence to move away. You will see that this is what happened yesterday as well.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
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Well, actually, you guys did a really good chat today, both in terms of answering my question (even if it may not have been an explicit goal) and providing great info for traders.
The central point I took away was at the end of the day success is all about learning to execute trades properly, and that discipline & forming good habits is a great way to get there.
You guys talked about the value of meditation and tools for self discovery. I liked that you both used webacams on yourselves and were surprised at the results. (Still working up to that one.)
You also talked about how all that glitters is not gold, and how to avoid some of the typical traps new traders fall into.
All of this is timeframe and instrument independent, so yes, it was exactly what I was curious about.
Thank you both for your time and excellent information.
I was wondering if you could give me a bit of clarification on something I heard you talk about on your last AMA. You mentioned that if you had a trade on and the context of that trade changes, that you might tighten you stop and look to get out of that trade.
Is that something one would do only after some time and experience, and with the knowledge that you already had a strategy that worked (meaning a tested strategy with statistically proven positive expectancy)?
I'm just starting out and in the first steps of putting together a strategy that involves discretionary entries. And I'm following your advice to never tamper with the trade once it's been put on so to be able to have usable data to evaluate the strategy, as opposed to injecting randomness by moving the stops and profit targets.
So my guess is that as a novice trader my priority should be focused on on getting the best data to evaluate my strategy, and not to actively manage the trade should a change of context arise, is that correct?
Thanks for another great AMA, and for all you do for all us traders.
