Notes
- The economic calendar should be treated like a TV guide, so we should plan trades around medium-impact and high-impact news.
- These events have to be treated as scheduled volatility injections.
- It’s important not to chase trades after we have missed a move (the best trade entry).
- Taking partials as the price moves in our favor is essential.
- Three roles of a trader:
- Analyst – Logical, data-driven, and risk-aware.
- Trader – Executes based on analyst input.
- Gambler – Impulsive and emotional.
- The analyst should lead, and the gambler must be silenced (ignored).
- Draw On Liquidity (DOL) is a guide, not a mandatory endpoint (target). The price may not get to the DOL, and we can still make money by taking partials on the way to it.
ES - Daily Chart
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