Continuing from Trade #20... Finally exited the two opens listed above in previous post. Then started doing the Rickshaw thing on the cash close, sort of. On trade 24 and 25 I waited for a dip before or at the first Asian open, and they worked well as sometimes there's a dip after the cash close and before Asia open. So caught extra bux on those. It's a holiday weekend for the US, and I have noticed futures generally drift up when futures are open but Wall Street is closed. Was hemming and hawing on this weekend's action because China is also closed on Sunday (Monday) due to holiday, but the chart looked good so got in early, around 3:30 PM on the Jun MNQ. So just one current open position for now at 13734.5. At least it is 70 points in profit at the ETH close, so we shall see. I like having that buffer.
Continuing from trade #25... Pfffhtt, that's it? Well yeah. The 13734 trade was nice. The MYM was wrong month and was a bail. So I finally entered it again later on the month I wanted (JUN), and had my profit target too high. So we're just swinging again. The latest MNQ entry? Again, too high of a target and it seems to be in a resistance band. So here we are again... Stimulus deal passing will lube the bulls some I reckon'. Otherwise I gots time on my hands, lol! That's really the only edge I can find. Not a profit edge, but a surviving edge.
Continuing from trade 27... So the MYM trade worked out fine. Great, wonderful. So I then thought, K, YM came down below my original entry point by the Thursday RTH close, let me go in again a bit lower than that, for the absolutely zero risk free money I hear so much about. And this is the result... So now we fester some more.
Continuing from trade #28... So aside from the Sunday night MNQ flier, it was all Dow this week. The 31256 entry worked with an average in on the Sunday open, and on Tuesday the late night entry looked good as well. Except, during the ETH, my target was set SEVEN ticks too high. Target was 31517, but top was 31510. UGG! So then came the major bollocks over the next few days. So, well, average in on Wednesday night, suffer the pullback, and reduce the target by 100 ticks from previous top. And it hit this afternoon. Only thing left is the festering Jun MNQ entry at 13712. Onward.
Continuing from trade #33... Holy shit, what a week of...Nothing! NQ correction and YM at all time highs, so try the ES! Divergent markets have me befuddled, so could not take any chances. Made a piker on the SP... And tried the ol' Rickshaw method of the ON entry on the (M)ES. It didn't work....PERIOD. So more festering... Rick, your method doesn't work very well.
I'd have been doing fine if I followed my original plan. Just hanging in there at this point. Continuing from trade number #34 above... As you can see, I closed the MNQ Jun 3932.5 entry in the next trading week for a profit. Picked up some bux on a MYM there on an overnight hold, but then next day thought I would get cute and actually BELIEVE folks like Rickshaw who bang on about zero risk. And so I entered trade #37 at the cash close. It poked into profit a couple times in the past two fricking weeks, but my 30 point profit target was a bit high. I stuck with it, and it finally banged out today. Sure, it went 20 points higher after the exit, but so what. I am still dealing with this horseshit... That's the niggly bit in the back of my mind, that keeps me from entering too many more positions, as other newer trades go against me. NEVER OVER LEVER! The temptation is strong. It helps to have a band in the head whose whole album is the same length as some individual progrock songs, lol! I hate buying at ATH, LOL!
Continuing... That horseshit entry from Feb finally closed out this week. Staying flat for the weekend.
Continuing... The last trade from today was a bummer...Target (~14050) was 5 points too high on the MNQ. It looked like it was going to hit on the pre-RTH rise this morning, and I stubbornly left it there. Seeing that the last 10-minute MOC crazy didn't happen I figured screw it, get the goods, because I feel like being flat for Sunday open. Flat is a position!
Continuing... Two closed positions this week. Then Monday happened, big drop. Then Biden bonanza happened on Thursday and another big drop on the open trades. So I was in a new MES trade last night and was seriously thinking of closing it at 50 points in profit this afternoon and thought, SCREW that, let it ride for once. Why not let winners run if I constantly let losers run? *shrugs* So there we are on open positions...