i am not swing trading right now but if i was, i would keep an eye on the 1316 level as well. after that 1306.75, 1303.25, 1302.5.
on the long side: 1335, 1336, 1339.5, 1342.5, 1346.5, 1356.5.
hope the short works out for you :D
chopped up all morning long. did not stick to my 2 trade loss in a row and stop trading for day rule. would have saved myself 300. tomorrow is a new day.
-406
ugh, i feel your pain. i am lucky that i hit it out of the park in 2008 / 2009 / half 2010 otherwise it would have been more then my whole trading account. at least you learned something as much as losing money sucks.
it sucks regardless of amount. in the end, it is tuition. SIM trading can help but executions are not always clean and it does not involve the emotion associated with real money. i don't care what anybody says, there is ALWAYS emotions involved with real money regardless of how good ones...
all about the singles from this point forward Dan. learn from your past mistakes but whatever you do, don't try to make it back as fast as you lost it. the probabilities of that path are very low.
given your current acct size, focus on the risk of every trade not where u think the mkt will...
first time posting here. making big change in my trading, focusing on ES only. starting with one contract, new process, increasing size according to stats. intraday only.
-32
market makers still have stops to run for those that got long end of last week. i see 1335 and 1316 as the 2 key levels if they try to take it down that much before taking it above the 1375.25 high.
this is what i am seeing and what i feel has the higher probability of happening.