That is good risk management. Could you share some insight into how you determine the long/short bias? (fundamental, technical, gut feel ...)
ES Journal - 2019/2020
- Thread starter Buy1Sell2
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Out at 3014.00 for 2 pt gain
You said "It looks very very good for much lower prices."
So why do you close your trade for a 2 point gain?
FOMO. It's something I do often.....get out for a profit too early in the trade. Common trading affliction actually. Tim Racette of www.Eminimind.com is all over this problem and says it must be resolved to be successful in trading.
I can understand FOMO in daytrading, however if you are 100% convinced that we are in a bear market and price is going down a lot while doing long term calls, like B1S2 is, then how is FOMO still a thing? I mean 2 points when he says we are in a bear market and we go down A LOT?
I also suffer from FOMO every now and then during daytrading but never with my longer term positions since it is just set and leave.
B1S2 is obviously playing both long term and short term time-frames. FOMO works in both.
Exactly, B1S2 has got to show a longer time-frame, multiple day position. This is not easy when you are bear-biased in a market near all-time historic highs.
Is there anything you could add further as to what is leg 2 (besides lower prices) or why now? and any specifics for what made up leg 1, as to what you were looking for?
Trump is at it again, his famous Friday Tweet.....Trumps now says he does not need a deal with China.....stocks tank.
Hmmmm.... I can't find that tweet?
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