I just pulled another bone-headed move. In trying to grab a few points because it was sailing higher, I went long at 8:50 PM ET on March MNQ. RIGHT AT THE PEAK! 13080. Same thing over and over and over again. Remember folks, there is ZERO RISK in this market! NONE! It is very annoying!
Sounds like what I do all too often. But instead of cursing at myself, I punish myself by bagholding, or re-entering and doubling up.
Yes, we were in a short term downtrend. Were. Fading countertrend wide range bars is not healthy for one’s account in the long run, especially in stock index futures. I see ES tested Friday’s high tonight and has made a new 30 minute low. However, I’m not seeing this as a reasonable short trade because sentiment, as suggested by other markets, is “Risk on”. Remember, the long term trend of stock indexes is up because of our economic prospects and stimulus efforts, a powerful combination.