Or you can take profit, then watch the 1-min chart for a continuation re-entry. When the bots are trying to defend every possible interim S/R level, I sometimes re-enter in the same direction 4 or 5 times off the 1-min pullbacks.
Interesting. So you take your profit (on a spike perhaps?), wait and then go back in at a better price?
in for a long at 100.5 Doji : Saw your message....thanks for that. Trading trends is something i am still not fully comfortable with. I generally try and pick the highs and lows. So getting in after closing early makes squirm. Although it is a great suggestion and i will look at building that into my system as time goes.
I'm an intraday scalper so I look to target minimum 20 ticks and I use tight stops. If a target larger than 20 ticks makes sense, such as in a strong trend, I may hold for more if price is really running, or I may take profit on a push, then get back in on the 1-min pullback. An example of trading a trending move in chunks today was: 12:53 ET: sh 101.26, cover 101.01 (a miracle the bid was lifted, lol) 01:31 ET: sh 101.09, cover 100.78 (off a 5-min pullback) 02:04 ET: sh 100.77, cover 100.55 (off a 5-min pullback) 02:14 ET: sh 100.63, cover 100.43 (off a 1-min pullback)
Ha ha, that's back when so many CL traders I was communicating with were taking 1-10 ticks profit, so I considered that scalping. I now consider trading for 20-30 ticks scalping after following some of you guys here who hold half the day or more through deep retraces for a point+