Let's Take a Test Drive by Pay$ense

So we are riding this trend and for now am :).

But will it freak out?

We can close this and be profitable for the day (giving up the profit target).

Or even add on a bounce (fade).

This has NOT been working well, lately.

I guess we will just go with the trend (lower-highs and lower-lows) until it breaks.

I know, I know - to probably give up gains for more (albeit small) losses.

One thing I have going for me is that last week when my mid-term SHORT NQ outperformed my YM & ES LONG. . .I actually gave up some.

But today the opposite is happening to my favor.p$
 
Target hit, closed 1NQ at 1176.25 for a 9 point gain.

Entered 1ES LONG w/ 1 point STOP to see if can profit from the bounce.

:cool:

Edit: closed 1ES for $75 gain.

(It made a minor bounce off the ES profit (downside) target and well just took the $$$ and ran).
 
OK - it looks like there has been some severe selling of tech issues today. Redemptions? I do not know. But what I do know is that there is plenty of room to the downside for more selling into the close.

Or we could POP since we hit the day-traders UT (ultimate target).

I placed (2) STOP orders:

BTO 1ES at 863.5
STO 1ES at 858.5

We shall see.
 
Well it did just that - <i>popped</i> to trigger the BTO STOP order. I placed a 1 point STOP.

We shall see if this has any legs.

Edit: not particularly liking that entry, it was STOPPED.

It was more likely to be a continuation of the bounce I thought was small and profited from $50. It would've been better to hold it for 3 more!

Entered a SHORT STOP order at 861 with a 1.25 STOP.

We shall see.

Edit: that didn't take long as ES DID suddenly drop 3 points to fill the position and place it with a 2 point gain!
 
STO 1NQ @ 1176

Entered STOP order to STO 1ES @ 857 w/ a 1 point STOP.

:cool:

OK that hurt. Churning account now and took another $50 loss waiting for this thing to close at the lows.

Still SHORT the extra 1NQ and now added one more SHORT at 1175.5 with mental STOP.
 
Finally pay$ off with a sudden <i>5 point drop!</i>

Edit: drops another 2 points and then bounces back up two so closed out for $200 profit.p$
 
Sweet!

Improved 1/2 my NQ hedge (SHORT NQ's) by closing on the late bounce at 1178.5 to then put it back on at 1192.5 - when it bounced more.

Every little bit helps, I guess.

pay$
 
Wow. A 7 point range on the ES for the first hour is a welcomed break for this trader.

p$

Edit: There are still 5.5 hours left to trade.
 
Once the indexes decided they wanted to display continues staunch weakness and had breached the BD (break down) level, I decided this was going to be another slow day of babysitting and I might as well make some $$$ while sitting around.

<b>$461 gain</b>

I did well today by simply looking at the (line) price chart and deciding I could get this or that!?!

pay$
 

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