Yea a good week so far, but you know what they say, you're only as good as your last trade. So long as the market is handing it out like today, I'll be here 6.5 hrs hunting for those setups and firing away.
Which stress is more profitable long-term.. Exiting too early or later and letting profits evaporate? I have experienced the first all my trading life it's getting very old and need to try the latter and see what happens to my trading results. Today was a doozy.. Took the short early and as I left for a meeting REALLY wanted to B/E the trade and leave it be.. BUT as over 1000 times before... my logical mind is absolutely shut down. Quitting for the day. +7.25
Love these kinds of days, the market tells you where it wants to go and respects it's boundaries, with wide swings allowing you ample room to make some profit even if you got a late entry. Picked up two nice size winners, one for 23 handles and the other for 16 handles, both longs. Unfortunately I gave alot of it away to the hits and misses a I had to take. No complaints here though, just another trading day.
58 is the next support, then 50, then 30 (prev HOD). If you see evidence that anyone of these levels will hold then you buy it.
Heading off to a lunch meeting so calling it a day. All longs, no shorts. Well we touched 200 sma earlier so looks like sellers are coming in now.
Was unable to trade today... Good top call! Markets are endlessly fascinating.. Held up all day, frustrating early bears...