Should the "80% rule" (i.e., breaking up through the VAL and trading up to the VAH) hold, there could be a lot of follow-through.
SIM so far today 5 trades with +400 rode that bull after news ..I left lot of SIM $$ on the table... I have serious issues with letting my winners run.. I need to learn this skill ..
+400 is nice. Regarding letting your winners run, keep in mind that highly volatile days like today will make you feel you're leaving money on the table, whereas days with tighter ranges will make you feel that you need to take profits more aggressively - instead of letting your winners go back to breakeven. That's why, IMHO, it's important to try to identify the day's structure as early as possible in the session. I keep an eye on the 5' (14) and 60' (3) ATR and their ratio to get an estimate of volatility for stops and targets. For example, right now, it's 23 ticks for 5' and 71 ticks for 60', so you want to use not too tight stops and have >50 ticks targets. Also their ratio is over 1:3, which is a good risk/reward and indicates that the market is trading directionally. It should go down as we approach and enter lunch hour. (Nice trade, Star, you really squeezed that one).