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Yes, I did look at the longer time (30 Min.) That's the killer part of the day... I was thinking it would be down-bias in the morning (Which it was) But all I could think about was going long... UGH! I tried to go the last two weeks without changing anything... Maybe I just need to trade the trend as you suggested... It will be hard...
Thanks again...
Can you help answer these questions from other members on NexusFi?
Day 12, 08-22-17
Trade #1 Long 1 ES @ 2435.75 @ 09:32
Why: Overall Long Bias, Trading the trend only today…
Results: Covered @ 2437.25 (09:35) +$72.60… Moved upward quickly,I didn’t know how far this move would go, grabbed the quick $75.00…
Aftermath: Market continued huge move upward… somewhere around plus 19 points… (+$400-500)
Need to work on how I can manage more money out of winning trades…
I have implemented the “Wait 15 minutes before Next Trade”, Rule…
Only Traded one time today..
I try to enter trades where I think I can get 2 points ($200)... In a perfect world, I would have multiple contracts, take a small profit with one or two, then let the other contract(s) run... Finding the ultimate exit, has been alluding...
Day 13, 08-23-17
Trade #1 Short 1 ES @ 2444.25 @ 08:29 Stop 2446.25…
Why: Small pull-back from downward trend (with trend)… I don’t normally trade premarket, but it looked like a good opportunity…
Results: Covered @ 2442.75 (08:47) +$72.60… Moved down quickly, made new lows, and grabbed the quick $75.00…
Thoughts: Thought I wanted to be out before open… (Wrong)
Trade #2 Short 1 ES @2442.50 (10:06) stop @2443.50…
Why: Thought market was in Down Bias… Waited over an hour for this trade… Broke through trend line…
Results: Market went to 2441.25 (+$62.50) Held onto trade, market reverse and took out stop…
Aftermath: In hindsight, could’ve took the quick $50.00… It took me too long to figure out that the market had switched bias… Should’ve been buying the dips instead of looking to sell… Market then went into a sideways frenzy of fast 2.5 point swings (Machine trading???)… Stepped out of the market… Happy with $20.20 for the day… Unusual… The better trades were around 11 to 1… Go figure…
