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way to go!

Isn't this just a typical scale out scenario?

Except that Thursday's close was 55.75 -- which was tagged, and then reversed. Just pointing out the relevance of the actual closing price. Very random, as R1 based on RTH is actually 57.75 :)

Indeed V, lots of merit -- also though, having the flexibility to add to a position after scaling out part of it is attractive as well. I see lots of people (and myself too) only scale out. The problem is if you catch a great move you have so little left if you haven't added to it that you...

Yes I'm just coming from a mathematical perspective -- it's kind of like adding to losing trades, and cutting winning trades, it's not really sound. So, why should I cut my position when I'm winning (scaling out)? There is no right or wrong and as you have shown, it's possible to make money...

And another very good article explaining in detail risk-on risk-off. According to HSBC, risk-on is "on the road to recovery" and risk-off is "not on the road to recovery." http://www.research.hsbc.com/midas/Res/RDV?p=pdf&key=2Q70z09rbF&n=282506.PDF

Regarding risk-on and risk-off "all or nothing" days, similar to what we were discussing the other day: http://www.etftrends.com/2011/11/risk-on-risk-off-trades-drive-sp-500-etfs/ Seems as though there have been quite a few this year (and several years), compared to years past. Many days...

Just nailed Friday's VPOC to the tick -- 46.50 (this happens a lot), but looks like it needs to go lower, no real buying pressure (volume) just yet. EDIT: 46.75 is also the weekly pivot, so some confluence at this area.

Was thinking about this today V, and while scaling out has its advantages, it also has its disadvantages. I used to almost always only trade all in all out, only when I started trading ES did I start scaling out, mostly because per contract it's "cheaper" than other instruments and easier to...

Thanks guys for all the helpful comments -- LF, I often think about what you said there, "good fill, bad trade" .. in other words, if it comes back, then maybe it's not as strong as I would want it to be, and do I really want to be on board in that case? If I get that good price, then so does...

Thanks b -- actually I think the issue is that I often read the market quite well when I'm in a "normal" state of mental clarity. Like the 39 long that I didn't take. It felt right, and based on what I saw and felt, I was very sure it was a good long. Yet, those are the very trades I hesitate...

Also B or anyone else who wishes to comment, how do you get past not getting filled? Like with my 39 long call, I put the order at 39 after I verified that it did not blow through 38.75, and it only went back to 39.50 -- even though I was 90% sure that the direction would continue up, I found...

Thanks for the honest and insightful look at your past bigsnack! When you started back did you trade 1 contract or more? I also have had a mini-meltdown as well and it was not easy to overcome.

wow--how did you recover from that b? psychologically i mean And what steps did you take to ensure it would not happen again? Like, reduce your size, be more choosy in trade selection, etc.?

out 48.50

shorted 47.25

out 50.50

will buy 51.25

bigsnack, your TICK hit 1200 on the initial pop above 51, quite impressive :)

Very nice. I considered scaling in a buy at 45.50, 44.50, and 43.50, instead of all in at 43.50 .. when it consolidates for that long without moving down lower, a chance at getting a "good deal" is slim to none, very nicely played my friend.