No set amount, just depends on what traders do with it. I don't think price ever traded more than a tick above my entry, which was basically the spread, though I might be wrong. This trade resulted in a very small profit, and then set up a long opportunity which is still alive, though I did take 1/2 the position off when price traded at the opening range high.
I'm guessing long around 04? Just a note that this is just a discussion not so much of an omg what do you do so I can copy it.
I actually got in at 8, and I just closed the second half of the trade 24.75 and I had taken half at 18. Now its time to go enjoy myself
Great trading and if I can quickly catch you before you go. You say it depends what traders do in order for you to have exited that short at 06. Just two traders well one trader and one wannabe talking shop, what was it for you that you need to see to pull that trade for profit or loss? Is it a pace thing like a rapid increase in price against your position? Does a swing point need to be breached? Just with your focus what would have caused you to say ok enough is enough with this trade? Again just talking shop/behavior. Your answer will also not affect what I do but I am seeing a lot of things happen with price now moreso than ever before and I realize the amount of focus it takes to really trade well. Just out of curiosity....
What happened between approx. 10:30 - 10:32 had me exit the short with a small profit, and what happened between approx. 10:34 - 10:38 had me enter a long trade. That all of this was happening around the level of yesterday's NY session high is what made either trade interesting to me. It would probably best for you to do a replay of 10:25 - 10:40 and see how it looks to you.
Oh I know how it looks to me I was still long thru both of your trades I was just asking for discussion purposes. It's 123s if we were to talk patterns. At least in my opinion. One was for the exit the other for the entry. "Swing high" broke at 04 for exit swing high broke at 08 for entry. At least that's what I see.
Fortydraws, thank you for beginning this thread, and for the time and thought you have (and will) put into it. - I found the thread today and look forward to studying what you've posted so far. I'm sure this will be beneficial to many traders.