I will start this journal to record my reversal trades in S&P emini. I have 4 trading rules serving as mnemonics based on Sun Tzu's Art of War: The Yin aspect: 1- Stop trading after 3 losing trades. The Yang aspect: 2- Intraday timing (Heaven) - I trade reversals in the morning. 3- S/R entry (Earth) - I use S/R to create tight stops and favorable risk/reward trades. 4- Confluence (Man) - I use multiple time frames and momentum divergence etc. as confirmations to increase my edge. I'll try to reply posts in the afternoon.
I donât see how anyone can make a living trading the ES following the trend! I have back tested many strategies and the only ones that make consistent money with good risk to reward are picking tops and bottoms! In back testing I am looking at 1 year of intraday tick data. The opposite applies for stocks! There the trend is your friend!
Hi, I expect this to become a trendday, I´m short the ym, stop BE and will not look at this screen till MOC, we saw a lot of distribution, the bigs absorbed any longs, Fake Breakout over highs, TRIN is in ugly area, premium high, i expect a ugly selloff after all this one-day-wonder-reversals. Michael