Currently I've been spending 3-4 hours a day trading the emini sim on NT. I do relatively well on momentum break outs at the open but im getting KO'd after the markets start to get range bound. So much so that im setting profit goals so when I hit it, I can just walk away and clear my mind. I get to cocky and think I can pick every reversal or breakout, start to fast forward to quickly and give back huge chunks of profit.
Is there a specific time of the day where the volatility is greatest or more likely to break out instead of having so many minor breakouts in between ranges?
Also currently I'm only watching the one chart on the emini s&p 500, the 5 min chart. Is there any other charts which will give me a better picture, for example resistance points on a bigger time scale. Does the equities s&p 500 have any influence on the emini.
Does getting closer to the expiry date create resistance or does volatility just decrease?
Thanks in advance