Here we go again: I put in an order to STO (1) ES @ STOP: 871 If it drops through and then bounces I will add another contract w/STOP.p$
. . .now how much bounce are we going to have? Not much so added another contract. Head-and-Shoulder pattern (along w/ resistance at breakout level) pulled me into this one.
Moved further down. Now the drawback (although any profit is fine) is that I took the trade off way to soon lately. Let's see if we can go with lower highs and lower lows method to ride this all the way down. Can use a rolling STOP. p$
$300 profit on two contracts thus far. Edit: $437 I should feel good about an instant 10 point move on my only daytrade of the day. Edit: $537 Why stop there, how about a 30 point move, lol. Edit: $650 As expected it now bounces off the 864 level (dare we add another contract?). I think I will go to the bathroom and then see what the market wants to do... Well that was exciting - the market didn't do anything (much, but I feel better).
oops (1) contract stopped (1) point. (2) contracts open. Seems we reached a higher high. Without all the tools necessary to daytrade. . .this one could go either way. Can't get greedy, though. Current: $262 - and poof! profit gone now with a loss. $237 loss. Um, yeah not my cup of tea!
Anyways. . .that is closed with said loss. Daily action is setting up to be a BIG head-and-shoulders pattern. Is a massive selloff into the close pending? If so I can adjust main positions to gain. Just STO 2 NQ @ 1197.75 with a 5 point STOP. We shall see. In other account (the one we that just lost): BTO 1ES @ 873.75 w/2 point STOP It is gonna go one way or the other! OK that one is stopped., but can we get a decisive move, now?
Yup, <i>immediately</i> drops 5 NQ points. Now what? Who knows. . .but further weakness will markedly improve my positions.p$ (I bet Paulson jumps in right now).
Nice work, why not change your post again, so it reads a profit, nobody will notice! Are you Electric Savant?