Look back at the 15min and you will see some great shorts you could have picked off. So easy to see after the fact - very hard trading day today for me. I hate choppy action and much prefer a trending day. Still no excuses plenty of opportunities were missed today to bag the 5-6 points IMO.
1330 is POC on market profile today. It is rare for balance days like this not to re-visit the POC. Personally i like the odds of re-visting 1330. However, nothing is for certain in this world of trading so risk control is more important.
Closed at 26.25, I think there could be a pullback to maybe 24, maybe a re-reversal... or maybe not, re-entered at 26.
Good stuff SpecX that was a good trade eh, hardly any heat on that one. I'm still holding as i prey on the big winners. If it goes against me then so be it - as i am still up for the day. I need the big one to make this worth my while on my measly one lot. However, i would definitely has scaled out right where you did had i not only 1 contract. Good trading mate.
That is the problem with expecting pull backs sometimes - you miss out on the big winner. That's why i generally hold all my trades too long - i am always waiting for that 20x risk trade. If you think it is going up then stay with it. It is much harder to exit and expect to get back in on a pull-back.
Well there you go, too bad I took a 1 tick profit on the re-entry when PA made me nervous... moving my stop up too quickly is a big problem for me. Good call on 30 though. I made $12.80 today on $200 gross, can you say overtrading? geez.
Balanced day reversion to the mean is very high probability. That always happens to me with re-entries - because you were long from such a lower price it sometimes messes with your head and the risk-reward on the re-entry does not look so favourable. That's why scaling out is so attractive i guess.