20220501
Short 3 M2K 1878.9, 1878.9, 1878.9, +6.2, +6.2, +6.2
Long 3 MNQ 12760.0, 12760.0, 12760.0, +25.0, +25.0, +25.0,
Long 3 MNQ 12730.75, 12730.75, 12730.75, -5.25, -5.25, -5.25
Long 3 MNQ 12701.5, 12701.5, 12701.5, -5.25, -5.25, -5.25
Long 3 MNQ 12692.75, 12692.75, 12692.75, -5.25, -5.25, -5.25
Long 3 MNQ 12636.5, 12636.5, 12636.5, -5.25, -5.25, -5.25
Long 3 MNQ 12604.25, 12604.25, 12604.25, -5.25, -5.25, -5.25
Long 3 MNQ 12463.5, 12463.5, 12463.5, +51.25, +51.25, +51.25,
Long 6 MES 4074.25, 4074.25, 4074.25, 4073.5, 4073.5, 4073.5, +10.0, +10.0, +10.0, +7.25, +7.25, +7.25,
PM Trades:
Short 3 MNQ 12552.5, 12552.5, 12552.5, -0.5, -0.5, -0.5,
Short 3 MES 4101.25, 4101.25, 4101.25, -1.25, -1.25, -1.25,
Short 6 MNQ 12554.5, 12554.5, 12554.5, 12555.0, 12555.0, 12555.0, +20.25, +20.25, +20.25, +30.0, +30.0, +30.0,
Short 3 MES 4104.25, 4104.25, 4104.25, +7.0, +7.0, +7.0,
Total MES +17.25
Total MNQ +299.25
Total M2K +18.6
Positions continue to be very difficult to take without repeated stop-outs. And giving back early profits comes easily in such wide spanning reaction waves. Hang onto your hat, it's a rodeo. And if you find the early going to be as difficult to trade as I have, try waiting for the PM action, where returns to the 200 MA (what we call the Last Chance Texaco), continue to offer more acceptable risks and very decent returns.
Of some note, I was wrong about the greater trend at all three major junctions today, but still managed one of my best days of late. First, having been short the M2K nearly at the top of the early action, I settled for some 1/4 of the extent of the eventual bear excursion. Secondly, I entered long into the steep decline at what I thought were valid exhaustion zones, only to get blown out quickly. And my eventually profitable longs came only a junctures of short term bounces. I could NOT identify the eventual low.
And finally, I took shorts in the PM action at the Last Chance Texaco zones. Here, I also took modest profits on short where I could have been reversing back into longs for later PM bull explosions, which I missed completely, having climbed back into decent profit territory for the day, and having little if any clue that such an explosion was at hand.
Trading is not about being right. Trading is about positioning around Entry Model opportunities, and then managing the trades. Have a Trade Plan. Incorporate well tested Entry Models, Target Exit Strategies, and Behavioral Stop-Loss triggers. This is how one manages the darkness and obscurity of the unpredictable.