up to 1331.5 now. Would have given me my +3.5 Now you see why i'd often rather just get in than wait for pullbacks volente, lol. the ES doesn't like to pullback and in waiting for it, you often miss some nice easy points.
Bulls in complete control. no reason for it to stop and go down at that point. It takes very BAD news or something to get it to drop 20 handles, but them points are put back ON without any equally GOOD news. What does that tell you!...?.... good trading
I'm guessing you're a newer trader, correct me if I'm wrong. The time and price you were tempted to go long was technically solid. Price broke through and stayed above the 20-day EMA in the overnight session, and if you weren't long earlier @ 1321.25 off the open, then you had a very nice narrow range consolidation around 1328 to play off of for continuation. You can place a very tight stop with that entry, and if price doesn't break 1329, just scratch the trade. As soon as price breaks 1329, you hold for the 1335 zone or whatever your desired profit target is. What surprises me is when price puts in a technical pullback reversal signal and you keep going long there and hold through all those points of heat. Either go short for the pullback move (they're just as sweet and usually faster), or be patient until a trend continuation level is reached, such as support at the 20-day EMA or the trend line.
I think iseeFed is a relatively new trader(assuming he's telling the truth). However, im pretty sure that he must now hold the record for number of points gained in realtime posts! lol.
Save your breath. Besides he knows it all at this point...and only wants/needs beer money. Let him enjoy it while it lasts... He has very good timing with his calls...risk control he will learn eventually... maybe. It's a bull market!.
The market was in a bull run when I first started trading and every trade was profitable no matter how much heat I took. Price always came back. Always. Until the bear market started and it didn't. I think IC trades a smaller version of the contract, so the end result might not be as damaging, but the lesson being ingrained is very damaging. Learning to trade with an edge in your favor AND solid risk management protects your capital through all market environments.
The best thing that could happen to him would be to learn to trade technically with risk management, then hold the winners for 10-30 point moves the way he holds some of those losers till they come back. He's willing to hold a trade, but he's taking small profits and holding big losers. But again, in a bull market, it will work and work and work...