A short transcript excerpt from a Kardec Trader YouTube video describing the speaker's session-level risk decision rules: they increase position risk when recent market action has been trending and provides clear opportunities, and reduce risk or skip trading when the market is range-bound or dominated by economic news. The speaker admits occasional breaks of their own rules with mixed results.
My approach to sessions in terms of how I'm risking, number one, depends on the recent couple of days or weeks. Right? So if we in the past couple of weeks have been in a market that's trending, the market that is giving us a lot of opportunity, I will put on more risk because I know what I'm looking for. But now when the market isn't doing that, the market is lesser range bound. We have a lot of economic news coming out, we're all over the place and hey, my risk is going to be low. I'm not going to throw myself into a zone where the market doesn't know what it wants to do. Why am I going to involve myself with players that have no clue what they want to do? So it's like, hey, don't trade today. And, and you know, I'll be honest, there's days I tell myself, don't trade today. And I trade, I make money, I lose money, whatever. And those are not great days.
