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Tuesday, 29 September 2015

missed entry


focus out due to  important phone call during open.

this is inside previous day - so its choppy as expected.
I looked at big frame after opening AND KEEP that big frame that could create confusion...
chart selection should change to small frame after 15 minutes of opening...
if I picked the small frame - entry must be entered after 2 candle without waiting for confirmation
becoz if wait for confirmation the opportunity akready gone in this choppy mkt.

so the standard operating procedure is
1) looked at prvious day hi lo - inside or outside to gauge which better chart frame
2) preopening till 15 min - looked at big frame chart to look for potential trending move.
3) if no trend detected, switch to small frame  -to play hit and run, without 3rd candle confirmation

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