Patience Is Always Important, Moreso Today
by Tony Rago
These slow tapes really test your mettle as a trader. This kind of action forces you to be very patient and let trades work. Yesterday’s paid session was a great example: The low was the 6288 on ES. It saved the roundy and we went up to the 6350 eventually. Getting there took a lot of time, but all you had to do was let it work.
That can be very challenging for NQ traders in tapes like this when we’re accustomed to fast trades that last less than a two-minute bar.
Today is about patience — waiting for our shot and keeping in mind that anything can happen. Volatility can stay near zero and then explode.
So do less today until the tape hands you a trade on a silver platter. Today’s free downloadable Pre-Market Playbook has what you need to get that done…
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