ES Journal Archive (2009 - 2010)

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I hate having 1 point in profit and not taking it because I see more potential for the trade and then be stopped out when the market reverses.

Perhaps I should be more nimble and learn to take 1 point when I have it and then look to re-enter in case momentum picks up and it turns out to be a big move.

Any ideas? :)

Currently short @ 1226, stop @ 1227,50.
 
I'm a small potatoes trader, and I try to keep it as simple as possible trading relatively short-term areas of support/resistance. Just closed my NQ short for a small (1.75 pt.) gain. The resistance point where I entered didn't hold, but the next resistance did hold, so I eventually got into the black. 'Course, as seems typical for me.... it came down to within 0.25 pt. of my target price (where I had a limit buy), and then started reversing back up. I closed it before I lost all I had gained. Would have been a 4 pt. winner had it hit my TP.

Good Day, Gents!

AM.
 
Quote from Laissez Faire:

I hate having 1 point in profit and not taking it because I see more potential for the trade and then be stopped out when the market reverses.

Perhaps I should be more nimble and learn to take 1 point when I have it and then look to re-enter in case momentum picks up and it turns out to be a big move.

Any ideas? :)

Currently short @ 1226, stop @ 1227,50.
More...

Stopped out @ 1227. Moved my stop since I knew a sell-off was very unlikely when the market stalled at my entry and the close was nearby. Not a big loss, but I did have a profit that I did not take :(

I`m pretty convinced that my solution is to become more nimble and learn to take 1 point profits and re-enter if the market keeps moving my way. Most moves provide opportunity for re-entry for a nimble trader and the commission costs are not that high.
 
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