Discipline During 5-Min Orb

[hailchaser2 185]

Being new, I have decided to use the "No Trading in the First 5 Minute" rule. I look for 5-Min Orbs to play. This morning my pre-market plan on one stock was TWTR>37.00.

If you were watching TWTR, that obviously didn't give me an opportunity if I wanted to follow my rules. It ended up being nearly a 2 point move, that I wasn't a part of. I am proud that I stayed disciplined, but it doesn't change the sting of a missed trade. I keep telling myself the decision I made this morning was better for my longevity in trading. I hope I can continue this discipline when I move to a live account next week.

What did/do  you do to keep disciplined in that first 5 minutes? 

I have found that literally sitting on my hands has worked so far, I put my hands under my legs and just watch that first 5 minute candle form.

@Carlos M. do you have tips for waiting 5 minutes?

 

[Brendon 146]

Eh not a big fan of not trading in the 1st 5 minutes, too many moves you can miss, it will mess with your judgement and create anxiety. It sounds like you are the type of trader who wants to trade within the first 5, so do it!. Just respect your stop, and you will get better at taking 5 min ORBS, over time, for now make sure you risk little while you learn.