A very happy Wednesday to you after the holiday break!
Your boy has returned from the Colombian Jungles and is easing himself back into the markets.
Today was a little tricky… I had an LVN at 4151 that I didn’t expect the price to stay around for long, so I got long on three separate occasions looking to target an HVN above…
The market wanted lower so I got stopped out three times, but thanks to my risk management and scaling out…
I actually didn’t lose a single tick due to price action.
Trading is probability-based, so even with great analysis you can always be wrong, and that’s why it’s important to have a stop in place.
Algos erode the edge in any strict mechanical edge, which is why the human brain is so powerful and why I suggest trading with some discretion.
After we dropped all the way down to 4123 we were super extended and had also reached my second LVN…
This gave me my second trade idea to go long and I entered with some micro ES contracts, exiting for a small $150 profit.
Remember that FOMC is at 2 PM Eastern today so be extra careful if you’re on the screens this afternoon!