12 Feb The Essence of Efficient Trading
Here's a great example of why it pays to segment your trading to the early 'wet' climate portion of the day. Efficient trading means not wasting time, ammo or energy and keeping the 'flow' from depleting unnecessarily. The AKAM SHORT was scaled into at 63.59 and 63.47 for 63.51 average cost this morning when the perfect storm breakdown trigger with the SPY rug pulls to scalp out 63.09, out + .43 profits in 10 minutes. By scalping into the gift overshoots off the 63.39 fib -.20 coil trigger = 63.19 panic trigger set off stops to allow us to cover into liquidity dumps through 63.10, we were able to capitalize in 10 minutes. AKAM proceeded to put in a 5 min MSL and spend the next 2 hours and 8 minutes grinding up to 64 price level before selling back down to 63.09 area. What is more efficient? Making a + .41 profit in 10 minutes or making the + .41 profit in 2 hours and 8 minutes? Factor in having to sit through a .10 wiggle versus - .50 wiggle as well. This is the essence of EFFICIENCY.