Kudos to MMs

[nitro]

NFV 1072.78. SPX $1052.79.

So people that took 24 are making money. Do we take it? Well, the impulse to do so is very great, but I say no. Wait until it goes to 14, then take profits on the second unit. Then when it goes to 7, take profits on the first unit. If NFV continues higher and SPX follows, you can make a killing this way.

"The hardest part of trading is learning to sit" - Jesse Livermore.

 

[nitro]

NFV 1072.87. SPX 1058.27. That is close enough to 14, so take one unit off. Another seven convergence and we take the other unit off and go flat. Then we go to the opera in a tux with a supermodel to celebrate.

 

[ammo]

nitro,whadaugot here

 

[nitro]

NFV 1075.06. SPX 1,060.31.

So there is long edge again.

 

[ammo]

thanks,for sharing,great thread

 

[nitro]

Quote from ammo:

thanks,for sharing,great thread

YW.

 

[nitro]

Notice that as soon as we go to 14, the market appears to take profits like mad, again causing edge. Getting close to 24 edge again.

 

[nitro]

NFV 1074.50. SPX goes out at 1047.23.

That is > 24. Long edge.

 

[nitro]

For those that took the trade above, one of two things happened, you entry was ill-timed (no way to know you did nothing wrong) or it was well timed. In the first case, the pop in ES will entice you to take some profit or get B/E. In the second case you have a decent profit of about five handles.

In either case, don't take it if you have the discipline. Stick to the profit targets.

 

[nitro]

NFV 1077.59. SPX 1051.95.

Edge still > 24.