Hi traders,
it's typically like a holiday for us traders when the market (SPY) moves strongly to one side as it did after Wednesday's open. But in current uncertain times (see my vid. "Indices Will Start Falling When...") you can never be sure of the genuity of such move. We saw exactly that yesterday. A V-shaped reversal and straight back up, ending the day positively!
This was why I stood away from the initial scrum and eventually found a profitable long opportunity later in the day.
Trades:
1) SIX - LONG @26.81, closed 1/2 earlier and raised SL. +1.30%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.30%
Total PnL for the week: +0.60%
Good trades,
Tom | FINEIGHT
it's typically like a holiday for us traders when the market (SPY) moves strongly to one side as it did after Wednesday's open. But in current uncertain times (see my vid. "Indices Will Start Falling When...") you can never be sure of the genuity of such move. We saw exactly that yesterday. A V-shaped reversal and straight back up, ending the day positively!
This was why I stood away from the initial scrum and eventually found a profitable long opportunity later in the day.
Trades:
1) SIX - LONG @26.81, closed 1/2 earlier and raised SL. +1.30%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.30%
Total PnL for the week: +0.60%
Good trades,
Tom | FINEIGHT