2/1 Reward Risk Target hit
Saw 1 high-prob ES trade today so took it with a 1-lot. Left some on the table but with a 2 pt stop hit r/r target of 2-1
Why did I go long at 10:23am at 1649 = Morning reversal, 1 minute swing highs/ lower lows, uvol/dvol ratio + a/d trending up and positive
Will be watching ES 1660C and AAPL 500C tomorrow. If we can get a gap down towards 1650 in ES early (before 10:30am est) think we can get a 10-15 pt bounce. Would like to pick up calls under $1 on both unless a major catalyst shows itself.
Being on vacation, I have had some time to look over my journal over the past weeks and will be improving risk reward ratio. From now on I'm only looking for trades that I believe have a good possibility of a 2 to 1 reward/risk at the minimum. Catalyst trend/Afternoon continuation and morning...
Yeah the only possible way I could do it is with $1m starting capital. Would trade 100 cars ES, only 1 trade a day. Strict rules, with daily trend, pullback entry only/no breakout.
Rules: Option must expire the same day of entry (Fri or eom futures options). Long Only.
Entry/Exit must be posted ASAP within 1 minute of fill
If it's a simulated trade, sim must be placed after entry price otherwise at least 1 contract must be purchased.
Goal...