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I went to eat lunch and missed this trade on the YM. The 2L triggered when bar 140 went 1 tick above bar 139. The stop should be placed 1 tick below bar 139. Trade is expected to go 30 ticks. The first take profit is at +15 ticks which it has reached.
Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
I took this riskier 2L on CL with a 1:1 if the trade works. I will try and reenter going for 15 ticks. Price must get past 54.21 to have a chance. As of right now, it is stalled there.
Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
Here is how I would have managed the missed trade on the YM. The red squares represent my trailing stop. Currently, the stop is at +16 and price had gone +29 ticks, I tick away from the target.
Also, I elected NOT to reenter on the CL trade because I wanted to see price go through my target by at least 1 tick and price did NOT do that so I passed on it. I may regret it. My reentry price would have been at 54.14 with a 4 tick stop and a first target of +15 and second target of +30 but really I don't know which way price is going to go at the moment so I stayed out.
Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
It would have been a nail biter but the YM trade worked out for +30 ticks and I am sure glad that I didn't enter the CL trade as price finally broke down. I'm done for the day. Hope everyone had a great trading day!
YM
CL
Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
