ZB was a very tough market to trade today. No clear trend developed. It is a great example of standing on the sidelines in the market. Perhaps, a trader trading a shorter time frame would have been profitable on this trade, but for my trading plan this did not fit into it.
After the release of the RED REPORT Core Durable Goods at 8:30AM Eastern time, the market was looking promising for a short entry, but towards the last minute on the trade on the 8:20 to 8:35AM Bar it fought its way back up and I stood aside.
I really wanted to SHORT this market today, but I was forced to continue to stand aside. My point is being on the sidelines is also a position. If you are not in the market, and it is trading sideways, then why trade it?
The better trade came in CORN today so paying attention to all of my markets I trade was the key to a successful trade today. This obviously, is my opinion and if it makes sense, then I am happy to be of assistance in your day trading.
Best Continued Wishes,
David AKA Tiger
No comments:
Post a Comment