Not the US PMIs in this case, but the Euro PMIs on Tuesday morning before you wake up. They can be total bangers and mash. As an overnight holder you have to be cognizant of that risk.
Who Thinks Swing Trading is Dangerous?
- Thread starter schizo
- Start date
Not the US PMIs in this case, but the Euro PMIs on Tuesday morning before you wake up. They can be total bangers and mash. As an overnight holder you have to be cognizant of that risk.
Okay, fine, I'll get out at 4100 or thereabout.
Thank you, that will make me feel much better, since I am long the June MES at 4203. You can ask me how I can possibly be in that position, but as an experienced swing trader you would know. You are not at that level of my incompetence yet, so we'll save it for later.
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stonk market is closed today 2/20/23 due to president day. so last night....i tried to swing trade 3 mes contracts base on my setup...held it thru out the night while i went to bed...woke up with $133.75 profit and i briefly did 1 es contract scalping and made another $25. so a total of $157.
So this will be my plan of action for the near future. I will buy when the price trades ABOVE the midzone and sell BELOW the midzone. For instance, ES is trading at 4075, so I will hold my long until it gets up to the next midzone at 4190 and then reverse to short.
Where will the stop be? Stops will basically be just below the zone if long or above the zone if short. Hence I will close out the current trade and flip short once it crosses below the current zone at 4050.
Where will the stop be? Stops will basically be just below the zone if long or above the zone if short. Hence I will close out the current trade and flip short once it crosses below the current zone at 4050.
How do you deal with zone zig zag action? Do you just keep reversing?
As long as price stays in the zone, namely just chopping up and down, I plan to stay put and do nothing. It's only a problem when it breaks out of the zone and stops me out, and then reverses hard and breaks out to the other side, where I would be stopped out again. Unfortunately, they do happen but not very often from what I can see on the chart.
How about that 4089 target that was hit midnight last night? Swing trading sux that way.