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The Art of Non-Prediction

August 2, 2012

The market lost 27 points in a single hour before the open today. What does this mean? In one sense it doesn’t mean much to me – I went into the session with the aim of following my plan and trading exactly the same patterns of price behaviour that I exploit every day. I’m far more bothered about making a decent return on my account than in proving to myself that I can somehow predict the future. You only need to know how the market behaves the majority of the time in order to make money, not know exactly how it will behave in relation to the position you currently have on.

__________________________________________________________________Daytrading Strategy 2nd August

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I don’t try to predict behaviour pre-market, just react to what I see, but it’s good to be aware of the possibilities so that I’m not caught off guard. You can read more on what I do pre-market here.

Here’s what happened during today’s trading:

+4.50

+3.25

+3.00

-1.50

(+9.25)

View Today’s Trading Chart Here

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