Target exit 2695...not being greedy today on the long AH. Price could go up higher, but it will serve as potential setup for tmr.
Your correct BUT your accuracy on the direction of the mkt is 100 times more forgiving than normal times if you a 7-10 pt trader. An example is the last 2 days even though we ran 12% from Fridays close to yesterdays open. There were literally 50 10 plus pt pullbacks so even though the direction was up there were a ton of short trades. Thats were the crazy never seen before volatility comes in.Top heavy scaling going contra trend to the big moves is working. This is truly one of the only times in history trading is 100% even for the longs and short . There's truly the same opportunity both long and short.
It's always ambitious. Haha. Direction could change any time, so PA is a good indicator to exit when it's moving in a weird way.
Yup, that's why I tend to like volatile sideways action (aka whipsaw). Although, big, continuous move in 1 direction will hurt once in a while, but statistically far and few. This is when you scale with the big trend. Markets trend and revert 50/50 of the time.
Are you a scalper looking for 10-15 pts? This markets are so good for scalping. Look at some of the people here.
Yes i agree but in these never seen before times even when the trend is up like now you get huge air pockets to the downside like yesterday near the close that stop you out . The question is even when the trend is up the mkt can still easily stop you out . Thus in these times if your intention is to hold for a few days you must have very very wide stops are the whipsaw will take you out. Brother there's 100 ways to trade . As i've said many times thats why posting trades as some do is for ones own self check . Nobody should ever follow another's trades . You must find the trading that fits your personality . What's your tolerance for holding a position running against you? What's your profit objective? You might have a $100k account and i have a $10k account thus i have less room for error thus my stops must be tighter . Just an example of what each trader must think about when developing their trading plan. Yes i'm usually a 7-15 pt scalper. If were heading straight down like yesterdays close some times i'll get 30 or more pts
An example is a trade i just did. Trends obviously up but i saw stagnation in the 70-75 area. Started scaling from 72-75. Only got 5 in as the mkt didn't run enough . Exited at 66
Totally agreed. Some very good fundamentals for new people for sure. I trade with bigger stops since it's even more forgiving with direction. Although, I tend to be more right than wrong.
You sound like a mean reversion trader. With scaling, proper risk management, effective sizing, it's a good strategy, statistically speaking as a well.