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ES K.I.S.S 5-17-18 - A LOSING DAY !!


If you are to study any day then today is the day to study as you would have shown a net loss today regardless of which approach you used.......just for purposes of this example I am assuming a 1.5 point loss per trade given a 1.25 point range today today for the OR.

1)first trade is short trying for the Overnight low as that is our nearest probability - this failed so you lost 1.5

2) second trade is long trying to hit the pivot as coming out the long side has the pivot as the nearest probability. that hit perfectly so you may have made only .5 points depending slippage

KEY Point : This is paramount ....since we are looking for at least two of our primary probabilities to hit you are still free to trade...so on we go...
3) 3rd trade is short trying for the Overnight low as that is our nearest probability - this failed and you lost 1.5 points

still we have not achieved a second key probability ( we only hit one and that was the daily pivot) so on we go trading

4) 4th trade is Long again and we hit the pivot and then we were trying for the 4 pm close or the 4:15 close ( another one of our probabilities) whichever is closest....in this case they were the same price of 2722.25
but we failed so I will count this as another loss even though we did hit the pivot but for this example I am giving this a 1.5 point loss

5) 5th trade is short again and we finally hit another one of our key probabilities, the second one of the day at the overnight low. I'm giving this trade a 3 point win only because it pushed through the low quickly and you should have had a good fill on exit

So on this losing day you would have lost one point and then depends how and what you did on that 4th trade.....so can you handle the stop and reverses ? Can you handle losing one point on your losing days? Would you be up on the week if you followed the rules/ guidelines so far ? You should be very far ahead for the week. For arguments sake lets just pretend you messed order entries up and lets say you had lots of slippage and you lost 3.5 points today.......can you handle that for a losing day ? I hope the answer is yes but review today's chart it's more important then the charts from winning days !
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