Whenever I see one of those patterns that everyone else is also seeing, I remind myself that bots trade S/R and algorithms, not chart patterns. I trade like a bot. +10 points on half, stop at 58.50 entry on the runners with a 92 profit target. Life is good.
What was name of the movie where he says "it is good to be me" ROFLMAO just incredible day of trading today. Short on the rocket to those highs. I usually take some off at a quarter off the 10's, ie 70,80,90 and we seeing the whys as it should make a failure in here. Should make continuation back down. reversion to the mean. that little bounce off 70 was for prof's to wait for the bounce that hits al the weak shorts and to add more contracts. perfect example of mini-dead cat bounce, but price holding and trend still up for me to get reverse. I find it interesting to be able to make 4 ticks many times a day, but so fricking hard to seldom get nice 10+ point plus trades. L65.75
Been kissing that TL the past days but is still putting in lower highs, spring coiling up for a big move down? Hard to see it play out another way but anything can and will happen in the markets. Still net short.
dumped 25% at 4 ticks and another 25% at 8 ticks and locked in a tick at 66.00. Have a OCO of seeking 10pts. Starbucks time, trade well all.
Great trading. I like your style. I know you're holding through some heat. Question: you average in as the price moves against you but when the trade turns around and is better than your average price, why don't you scale up (like instead of removing a contract at your first target, why not add another one and backstop it)?