Getting it on

I have written about how I qualify the market at the close of every range bar. I have also spoken about how I anticipate where the bar will close so I can get my order in on a stop.

This is process has a dual benefit.

Firstly, it keeps you on top of exactly where you are in the auction process as you have to go through your mental check list every bar. This keeps me focused and my mind in the game.

Secondly, it makes it harder to miss a trade. If I see the start of a new range bar, I can calculate where that range bar will end. If I take the best case scenario and it closes in a position that triggers a trade, I'll put my order into the DOM on a Stop Limit basis so that the trade gets triggered. Once every so often, The range bar might reverse and the new bar starts at the wrong end of the my anticipated close. But, as I am using the best trade location, I can mostly scratch the trade or exit for a small loss. The benefits of not missing the trade or being ahead of the queue far outway,for me, the risk of being triggered in a trade wrongly.

If the idea appeals, back test it against trades you entered and see if you would have gotten a better price and have at look at the trades you missed because you were too slow.

This is all part of context and envisioning. It makes a huge difference to my trading and it will to yours.

Today's trades were a lot of work, not difficult but a lot of trades. VAL of yesterday held the market after a weak session during the London morning.

Trade 5 was an averaging of trade 4 and I exited trade 4 at break even plus a tick.