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ES Tuesday 3-31-15


Bands for the day. Good luck to all.

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iv033115
yup mess this trade up out at 66
days like today i wish i had runners. got in long at 65 and out for a quick scalp. would have liked to have held for open and O/N mid pt
Got in @ 70 as mentioned. First lot out right before open print, runners to bottom of 1st 5m. Cannot assume it will run that out.

Good luck, done for today.
nice trade mike and better yet i like the way you manage it..
agreed. nicely done Mike

Originally posted by duck

nice trade mike and better yet i like the way you manage it..
duck, may i offer an opinion? i think you had a great entry but there was a decent chance that the market would retrace on the open because we had YD's low at 64.5 and also we had the O/N greenie right there. That is why I was waiting to get long over there. So I do not think you needed to stop yourself out there.

In all honesty, I too bungled my trade by getting out too early on my long entirely due to fear and for no rational reason. I should have held till the open, which was my original plan. So I am definitely right there with you.

My point is that we are in the same boat and we can help each other by being honest. No offense. :)

Originally posted by duck

yup mess this trade up out at 66
QUIT WATCHING EVERY TICK, said with love.
honestly, cannot hear that enough!

Originally posted by Big Mike

QUIT WATCHING EVERY TICK, said with love.
thanks for the opinion no offense taken. you or anybody else see something wrong with my post please point it out. what i find interesting about trading is there is nothing new under the sun..meaning all the methods usually produce the same numbers in general. i believe most important tool in trading is having the right mind set.

todays trade looks like we both didnt have the right mind set.
yes mike have a plan trade the plan and dont let the mind mess it up.

thanks everyone
duck
agreed. all kinds of methods can make money as long as you follow the plan and stick to it.
the wonderful thing is that the market will still be here tomorrow so as long as we learn from it and come back, we will be ok :)

Originally posted by duck

thanks for the opinion no offense taken. you or anybody else see something wrong with my post please point it out. what i find interesting about trading is there is nothing new under the sun..meaning all the methods usually produce the same numbers in general. i believe most important tool in trading is having the right mind set.

todays trade looks like we both didnt have the right mind set.
yes mike have a plan trade the plan and dont let the mind mess it up.

thanks everyone
duck
thanks for the suggestion Mike. I will try doing that homework soon.

Originally posted by Big Mike

For those who are struggling regarding determination of range bound or trend type days, I would suggest a chart 5M, RTH only for the last 20 days or so and see what happens when the open is outside RTH extremes.See how this may or may not be impacted by the previous day's type.

From there, see if you can formulate a game plan as to entry and stop placement, then work on targets or risk/reward parameters that work for you.

The worst is fading on days that want to move and vice-versa.

The past 20 days or so are a good illustration with enough data points close together to get a feel.

Good luck to all!