The next long would have been 59, currently up 5 points. Did you miss it? Edit: I would exit here at 66...
About gaps: You always have to watch all 3 indeces. The Nasdaq did close the gap yesterday (also made a nice doublebottom with RSI) and the SPX also closed about 85% of the gap, which is pretty good. A 5 pts gap left, but we could rally up leaving that behind for a few weeks returning to it in October.... The point is that the force to close the gap is not as strong as it seems... (after all we have a gap at 1320 waiting for 3 months now)
Sold 6625 s/l 6925 BUY 2/3 6325 and adjust s/l. Got a feeling this one is going to be tough, but that is my confirmed entry point...gotta live with it.
Knocked out @ 6925.."10" finished for the day. Of course the irony is that I missed 2 earlier trades that were profiable as I was in the midst of other things. That's the way it goes...we are not robots or slaves to the market.
What I don't get, how did you get such a bad entry, when you knew beforehand the 68.5 short and you could have put a limit order there?
Ok, all my trades are based on the price performance model that I run. Frequently , the prices are very close. There have been occassions where I got a far better price entry than the "10" price; other times, like today, not so good. As soon as I took my trade, yep, live...have been for nearly 2 weeks...co-mingled with my other trades, I felt squeemish as the price behaviour was somewhat erratic. Hoooo noooo
2nd target hit, full 10pts. 3rd profitable trade. Again, trailing stop / first target actually hurts results. We will continue to keep this in mind to continue improving results.