Yes, I held the position as planned. I even added some at times. I have 8 futures accounts. Some for automated systems, swing, position and intraday scalp. It was one of the hardest trades to hold with that large rally but I just stuck to my plan and placed my stop at breakeven. It also helped to be on vacation most of the time. I knew there was going to be rallies against me... we are in a bull market but I had conviction that we would get down to 1425 before the odds shift to the upside of moving higher. People who have been on this forum for awhile have seen me anticipating this decline since the end of february and was getting excited when new all time highs happened in the spx. My trading plan and experience kept me in the trade.
Here is a trade I am taking on my swing account.. Averaged in at 1433-1435 stop at 1431.75 and 1429 3-6pt stops target 1 +30 pts target 2 +55 pts target 3 70pts+ Great R:R... cant pass it up.
ok. let me save everyone the trouble... how many pulled out their calculator and went, 1434 +70 = 1504 ! ?
Alright same trade basically back on. Edit: stopped out on trailing stop +2. I will look to reenter on weakness. Edit2: back long again. (2:00pm EST)
Most likely see an up close today, nothing to huge and then a gap up for a huge upday tomorrow.... all predictions but seen it happen so many times that its almost second nature to me...
we're going to rally big here. my main system,this is the first time I've seen this. ES 1550 here we come blackguard