I missed the open and the down side slide so had to wait for the next opportunity. The only thing that was a bit irritating was the fact that I entered a long trade around 1030 in the 60's and 63's hoping to be done trading by lunch time. It was like the trade that would never end until EOD.
Was waiting for price to test the open and/or overnight highs at some point before 1500 and I planned to be out of the trade by the final hour of trading. I gradually peeled off my C's after taking some heat around 1200 as price dipped into 59's with stop in 58's.
The sequence of this trade took over four hours which was a bit frustrating but at least there was profit involved. Scaling out as price ran up from the lows and finally closed the final C of the trade in 64's. What a price game/battle zone in that area. I wasn't going to get trapped in the final hour so started the weekend at least in the last hour of the regular session. Result: +7.25
Again today I had a good feel for the market as I continue to use intuition and trade "what I see" not "what I think" to help drive my trade decisions. Also, I continue to see development in my ability to "let the trades work". This is a result of having a better handle on patience, intuition and being familiar with reading/interpreting my internal indicators that provide great clues.
Trade Well !
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2 comments:
Great post. Remember, sometmes NOT taking or forcing a trade is an option.
When you are unavailable for the primary trade, and it makes its move... then you are usually left with the lunch doldrums; same risk, less profit opportunity normally.
If the primary doesn't come as anticipated, then the odds shift for the lunch breakout. That's the better odds trade, in my opinion.
Looks like you are making great progress, congrats.
Thanks E for the additional insights. Always appreciated and noted!
What I find kinda cool is the fact that I am experiencing less emotion as I wait for the set-ups as well as while I am in the trades.
Being "bored" while waiting to go to "work" is a good thing and demonstrates development in the right direction as a trader. It sure as hell beats the emotional roller coaster we experience as new traders.
Have a good weekend.
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