Covered ES long @ 78.50 (MOC) -1.25 MFE was six points...easy come, easy go. Cumulative P/L: -11.25 (Four trades)
Long ES @ 1381.25 Stop @ 71.25, Target @ 91.25 Not looking like a good day for being long, unless there are some surprises at 10:00.
Sorry, looked at the wrong order on that one. Was actually stopped out at 71.25 -10 Cumulative P/L: -21.25 (Five Trades)
I believe it's because you get paid by The Market for going against your emotional impulses. You provide a service to the gamblers who choose not to. You create the game, you stack the oddz, and you set the bet limits so other people can have a good time taking the other side of your trade. Sad but true, humans do what they all do, all at the same time, until the dorks show up to the party. Then it fades!
Good idea, as most of the trades have at least some favorable excursion, and the trailing stop would help lock in profits as well as limiting losses.
Long ES @ 1378.25, Stop @ 68.25, Target @ 88.25. We've got a gap to fill at 72.50, and I expect price to head that way before going higher. Happy Birthday to Canon, the youngest of my four awesome children!!