S/R Emini Journal

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Ok, I started thinking the difference between a winning trader and a losing trader is that as soon as winning trader realizes his trade will lose he bails. So I bailed with a 1 point loss.
 
I will look to re enter long at 1328.25 this way if I get my 2 points on the second trade I will be up 1 point for the day and be done.
 
Quote from 4re:

Ok, I started thinking the difference between a winning trader and a losing trader is that as soon as winning trader realizes his trade will lose he bails. So I bailed with a 1 point loss.
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One point I would like to make, in an uptrending market a down opening market fills the gap better than 60% of the time.
 
Quote from Patricio:

One point I would like to make, in an uptrending market a down opening market fills the gap better than 60% of the time.
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I have heard this observation as well. My decision to bail on this trade was based on observation of the Q's and IBM. I was seeing bull flags carrying over from yesterday and when I saw them breakout of the flag I knew I was hosed. That is when discipline and money management kicked in.
 
One thing i have picked up over time is that on a trend day, it often will continue into the first hour into the next day, at least until the 10:30 crew enters the fight. :)
 
Quote from MiniDowTrader:

YM breakout of 11600 could blow the lid off this thing...or not!:D
MDT
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That probably corresponds with my look at 1328 on the ES and 40.00 on the Q's
 
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