Well, I screwed myself bad. First losing day in 3 weeks. I saw bullish div. and started scalping long on ER2, look at my arrows, that's where I was buying. ER2 kept going down, but YM was bouncing. If I had gone long YM I would have made profit, instead of a huge loss. Also note, I tend to suck during the last 30min of trading. I made the mistake of avg. into a loser from a divergence I saw.
Trade summary= Averaged a loser, #1 mistake. Traded the closing 30min from an impulsive scalp, that went green to red and worse when averaged down. Should have left when I said I was going to. Very mad at myself. I'm really pissed that NQ, ES and YM bounced, but ER2 continued to screw me into the close from neg. divergence. P/L= -$887
Here is a comparison chart of what would of happened if I went long YM instead of ER2. This is the second time I've made this mistake. I'm still trying to learn how to trade these divergences. I think I've come to the conclusion, if ER2 has bearish divergence, you stay away from long scalps on it if you wanted to try to go long on a bounce. Instead, you try long scalps on YM or ES. That is my $900 lesson for the day. I'll be back next week, ready to beat the divergence out of ER2. I put in arrows of where my actual buy and sells were using pointer tracking on both charts.
Thanks Romik. I have some work to do on my scalp trades. The holding time is to long, and I let them turn into averaged down losers. I've been trying not to do that, but the divergence I saw between YM and ER2 told me that ER2 was going to bounce with the rest of the indices.
I assume your scalping trades were not meant to be averaged due to size, but you got carried away? That's normal, happened to most, I am sure. As you said, good lesson. Never mind.
Well we did just that. Into the after hours. My initial trades for the day should have been held longer. One more chart,,I have to bang this into my head. DIVERGENCES!!!!!