Absolutely, but don`t forget that multiple stop-outs even with low risk is the equivalent to bleeding to death by a thousand paper cuts. Oh, and don`t forget this...
Thanks LF. That eudaemon guy was onto something. Maybe he is waiting for ammo to puke on his shorts. Eudaemon used to be a cruel bastard, for sure. I believe this is not an uptrend day, but a sucker short covering rally day.
Hey Volente, See what I wrote in the ES journal. I burned myself badly too many times trying to short a day like this. Drifting slowly up into the gap which is just above your stop is my bet. Why not enter a short after the gap is filled? Of course, I may be completely wrong and 63 is a potential reversal zone, it just looks like one of these slow days that keeps drifting upwards. Sincerely, LF
Whether shorts are covering or new longs are entering, your P&L will look just as red if you keep picking a top today before a confirmed reversal is in place. Did eudaemon tell you about that? Tell him I said hello.
on my 10 min chart starting 10 hrs ago, it looks like a curved dagger... handle and everything I got a bit of a stab and blooded too!
I guess it comes down to tactical entries, stops, and exits and leverage then?. mmmm. I'll probably see him this weekend at the strip club. I'll pass on the message, but I'm pretty sure he still reads this. Funny guy.