14 thoughts on “*** Buy ES NOW Targ=2660.00 Stop=2648.25 TS=eod (disc)

  1. reasons not to like the trade: YM and TF both are still trending. For ES, price needs to move up above yesterday’s LOD.

    reasons to like the trade: higher low on the ES, if you consider the 14:50 bar, and definitely higher lows on the NQ (5 minute charts). Daily range is nice sized already.

  2. if NQ breaks above it’s 13:50 high, I suspect some traders will be watching & give it a boost there. That might (might) occur at about the time ES is reaching our target – a nudge there would be great.

  3. Winner, +3.00 points.

    After-the-trade thoughts: This was a discretionary trade, and, as always, it’s hard to learn from discretionary trades. After the last adjustment of target & stop, the risk & reward were both 3.00 points, and with range for the day, and considering we were playing a LOD bounce, the trade, effectively, ended up being a scalp. So, even more so, hard to know what to learn from. It easily, EASILY, could have gone either way.

    I think the insight to be had, after living through this trade, is this: any given trade, ESPECIALLY a scalp, is going to have a more or less random outcome. It’s out of your control. Everything from little news blips, to a bounce being 1 tick less than you anticipated, to not being filled at your target – these are all things that might determine a given trade’s outcome. And, in the case of the price action today after the 15:16 bar, if you didn’t get a fill at 58.00, you’d be emotionally thrown a sucker punch. This is all part of the normal emotional highs and lows of trading. It’s all tough to take, when you’re letting yourself get wrapped up on a particular single trade. The trick is to realize that it’s not the individual trades that matter, but rather your net results at the end of the year.

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