Not looking too bad now. Not convinced yet, but if the 52 area holds, who knows if this just ain't gonna grind higher for another high on the day.
Is it me or does the market actually seem to have been settling down since Trump's inauguration? I felt like from about the middle of December until the change in admins in D.C. was insane mode. This feels kinda normal to me now?
Overall a sad trading week for me. Lost around $3.5K from equity highs after a great week last week. It started with a bad day on Monday where the plan was to just play it safe, but I ended up overleveraging and quickly losing $2K on the day during choppy action. After that I was playing scared (not playing to win) and too defensively for the rest of the week. Two green days, but not enough to salvage my losses. Today was well in the green at one point, too, but I was too greedy to book it and focused on the money. Funny thing is that most of the days I had a good read of the overall market - including today. But my timing was off, I took on too much size or was wicked out for a few ticks. That's what I mean by trading being a very marginal business. There's not much room for error. That's also why I know V-Shape doesn't trade. Recognizing the bullish nature of the market and actually trading it are two different animals. Anyway, I just requested $14.25K from Topstep. It could have been more, but it is what is and it's still money. The year is still young. Maybe I can get lucky again.
Actually, ES has been +5 ATR and more for the whole week. In retrospect, plenty of profitable long opportunities at -3 ATR on the one minute. I see sell signals as I write this, but am done for the day with no opening trades, like yesterday. Edit: But lunchtime? If I was going to trade short, I'd try shorting at +3 ATR on the one minute, risking about 2 ATR.