I often read plenty of threads here at the Factory about trading systems, setups, entries, exits, money management, David Beckham's last hairstyle, etc. But I wonder why we don't see more threads about one of the most important aspects of trading: to learn when to not get involved in the markets.
Today, as I finished scanning my charts like every morning, I decided that there was nothing I liked to trade. Not only my charts were totally messed up, but moreover we had plenty of news announcements for multiple currencies, two important speaches and whatnot. Yet I came here to the Factory and the folks were posting entry calls left, right and center. So I looked again at my charts scratching my head and still not seeing anything clear at all.
I definitely respect that everyone has their own systems and stuff, by why don't we see more "today is one of those days I won't trade" threads? It's crucial to know when to remain on the sidelines in my opinion!
Today, as I finished scanning my charts like every morning, I decided that there was nothing I liked to trade. Not only my charts were totally messed up, but moreover we had plenty of news announcements for multiple currencies, two important speaches and whatnot. Yet I came here to the Factory and the folks were posting entry calls left, right and center. So I looked again at my charts scratching my head and still not seeing anything clear at all.
I definitely respect that everyone has their own systems and stuff, by why don't we see more "today is one of those days I won't trade" threads? It's crucial to know when to remain on the sidelines in my opinion!