(binned per thread starter's request) Market bottom rotation trad

And just when you think you are done market sends another gift. Now after TNXP, another offering on trash runner : TENX. 10 million shares offering, underwritters.
Looking to chase this one with few orders on its death leg. Made big misstake for not trading this one earlier could have been in with good average on short by now.

https://finance.yahoo.com/news/tenax-therapeutics-announces-pricing-10-180200053.html

Straight down in its death leg. Covered small short.

what was your position size and how are you ensuring there is enough liquidity available on a Friday afternoon to get out before market close? How is that acceptable within your risk parameters? Asking because I have had my share of "penny stocks" back in the day with brand names like SIRI but i would only trade large volume active stocks with low <$5 in stock price. Illiquid penny stocks is worse than spot fx imo.

Alright last one for this week, TENX short on the weakness, covered into wash.

You can see on volume indie lower that this was thickly traded stock (for a penny stock and its float size), it is penny stock but it is not illiquid. And my size is never that big that i would issues with exiting out, even on true trash ones with volume of 100k traded on day its still managable to get out, as long as you have under 5k shares position.
TENX currently trading 50k per 1 minute candle, so plenty of liquidity. Thing is that you only want to trade those on their very active days when all eyes are on them on fresh news, and any other day completly avoid it, because then yes you will have issues with liquidity.
SIRI i dont trade, big float there is 0 clue what that thing is gona do each day. And heavily shorted. As long term investment only if you are playing it long.

Winston Reed, it is exactly my point
just have some more points for orders

Missed solid play on GBPUSD came at screen just a bit too late. Clearout ahead of news and then strong supply takeout. Two solid entries could be taken.

EURUSD B quality play potentially but needs another leg with confirmation.

No play, it faded. Thin markets not much in London so far.

Took sell entries on EU and GU at London open and bought AU at German open. AU trade failed, but profited on EU and GU trades. Ended the morning session with 3R profit. My point here is not to discuss those trades but the following:

How do you manage your sessions? Do you stop after a time limit, profit goal or loss limit?

I read a good article that was shared on another thread that compares blackjack to trading and the author argues that only a limited number of good setups exists in a session on average. He would stop trading after reaching is profit target. He makes a very good point and therefore I would like to know from others their viewpoint.

USDTRY supply takeout, missed it. No trades taken today, not much in the market, got some in equities but mostly small trades.

Very true and very false at the same time, and let me explain why. Without the doubt each market session has only certain average of A grade plays, but they are not evenly distributed. Depends very much on what you trade, if we are talking about the supply takeouts or pullback legs those are defenetelly not very evenly spread trough the day, which means that ending session after lets say 2 winning setups would not make much of a sense. There are sessions like today where there is maybe a 1 good setup in whole day, and there are sessions where there is nothing in London, but NYO starts to deliver few of them. I dont believe in stopping to trade after you got few good setups, i do believe however in stopping to trade after few bad trades are taken, thats very different, because poor exeuctions lead to more poor exeuctions usually, while if you stick with discipline to good exeuctions it usually doesnt spill too much on downside.

I think using card games would be misleading example. As poker player i would never stop playing game just because of winning big in first 2 hands. Never. You can easily get then a series of 0 hands to play on, you need to have some sort of consistent play rate of how many hands you will play each match, which in trading would translate : you need to put some sort of equal amount of time into market each day, showing up 5 min one day and 5 hours next one is not going to do anything good. My advice would be, build a disciplined and steady routine the way you will trade and do not focus on what you won or lost (as long as executions are following rules).

FX markets are much more spread across on setups which means you need more access to market trough the day. For example equities are a lot more centered where you can specifically say only 1-2 hours max per day every day the same because you can focus majority of plays in first 2 hours of open, in FX its just not the case, especially if you trade MM patterns. Different kind of beast. Majority of equity traders are planners, majority of FX traders are opportunistic eagles watching from above until something pops on the ground, at least from the experiance of watching dozens of consistent traders myself. Its due to different market structure.

Short term macro play added on X/GBP. Now Brexit drama gets to its stage where my initial statement was all along since 2016, it will be a solid failure, the Brussels know to gets it way, especially against countries without cohesive political support.

Plan: Looking to short pops or weaknesses, along the short term macro target. Not looking for anything too deep, perhaps 2400ish as target.

EURUSD A quality play, longed.

EURUSD closed for 1 R gain. As soon as Yen blown of the bottom (top XJPY) it was one way street for EU to go no matter of the setup.

Today's last setup GU!

DE30 A quality setup today, missed.