JohnBob........... could very well have been. We do know one thing Gen Patton was a character. My father served under him.
+ $608 Short ES @ 1102.00 in premarket when price moved up strongly to test the previous resistance level, stop @ 1103.50 just above previous R. I didnât wait for a pullback; rather I sold into the strength using the upper channel line overshoot zone as my guide (it was a âlittle voice inside my headâ entry based on hours and hours of screen time) and ended up short 1 tick from the top of the move. On the open price just kept falling. It was like Whack-a-Mole: every time the market attempted to establish support and move up, it was whacked down to another low. I finally covered @ 1089.75 for $607.70 when support appeared to be established from a very deep lower channel line overshoot. Chose not to churn my profits midday and that was that.
Hi Willie. Come around now and then. Great job Nod. Ya gotta love the beauty of early setups and making money before the breakfast is digested. I believe you can now understand when i say i am a better trader in the mornings than afternoons. The setups are truer in mornings when all the big players are at their desks and all looking for the same thing. A simple glance at a volume chart will confirm that. Afternoons are a lot of quacks shooting from the hip and hope to hit something. Afternoons are more amateur hour, no real rhyme or reason for most of the stupid moves. Afternoons are mostly looking for a SOLID GOLD reversal signal and not fooling with the mkt pork chops. :eek: If a trader had a good morning and booked some nice profits, super enough. Sneaking into holiday mode.
Yes, I noticed Arjun posting his P/L every day 2 hours or less after the open and decided I want to be like him All my sim trading and screen time with ES has given me a lot of confidence now. I was very patient today because a) previous support became resistance (one of my favorite short signals), and b) the selling pressure was simply relentless this morning. At what point should I up the ante a bit? Maybe when a setup as strong as today's is in play I trade 4-5 cars and stick with 1 or 2 on standard setups?
I am by far a bad trader to do add-ons for more profits. But this i have done and it does work more than not. Sometimes when the profits have been good i might decide to hit the "MOUSE" again to add-on the amount of cars i have setup as a regular entry. I like to do it on 50% retraces for a continuation, HOOKS are good also as a time to hit the mouse again. Adding on never was my strong point. Unfortunetly, I would describe my style more an "IN and OUT" type trader. It kind of befuddled me actually because as i said...........it usually worked and felt good to hit the mouse a couple extra times and RISK the profits from THAT trade already in the bag. My discipline on th exercise is steller because if the trade reverses on me.........i BAIL OUT, no BS, I BUG OUT. With all that you would expect me to do it a lot more, i guess i am satisfied to just do so much and not be a hero. HA!!! I would suggest to you.............work on it. Just be super disciplined to bail out because a double, triple-up can wipe out THAT particular trades profits real fast. Notice i do not risk the profits from the other trades, that can be demoralizing. It is extra good feeling when the trade pops in your favor after a big add-on. CUCKOO, CUCKOO, CUCKOO as it makes a new low or high sounds cool. Like this mornings drop. Which by th way you beat me............I shorted at 1098.00 and took out 8 and reshorted again at 1092.00 down to 1089.00. Called it a day. I like to go out and have a nice coffee after a good start of the day...........i just KNEW the biggest move was over.
+$330 Day +$1234 Week Short ANF @ average 40.71 on the opening short squeeze, selling into strength when price pulled exactly 1 cm. away from the 20 EMA. Covered @ 40.04 on the pivot off oversold from near the LOD for +$330. Watched ANF meander for a long time and couldâve had a nice re-short for the drift down move, but was afraid of churning profits. Later, after basing and attempting to reverse, it became overbought and I offered 39.75, missed by .05 and did not feel the R:R strong enough to chase because it was pretty close to the pre-market low of 39.40 where I assumed it would make another attempt to reverse its downtrend. Missed a very good 3rd leg down to new lows on that one. Watched HES late day to short a failed b/o through the HOD but it never materialized. Good weekend to all!