When my edge works, it really works. The cusp trade which is my primary money maker appeared perfectly on the ES chart - blue arrow - at 10.55 a.m and the market lifted almost 80 points. There was a chance for a second entry at 12.34 p.m for those that missed the first.
If you haven’t read it: this is how I trade.
Even though the jobs numbers came in very strong and the ES initially sold off for 40 points pre-market, news about the auto-workers not expanding their strike might have lit a match in the indexes.
From my experience the market can react to the faintest of good or bad news before it makes a major move. Once the algos start buying or selling the frenetic energy cascades into a short covering or panic selling. Classic case of that today. That is why us traders need to be ready for anything, because literally anything can happen in the market.
I had a decent day and I am grateful for the elevated vol lately. May it long continue.
I hope you the reader had a good day and a great week trading.
Even if your results are not where you expect them to be, don’t beat yourself up too much. The process of trading reveals itself through time and effort. It really is about following a deliberate plan and being okay with the results, granted you never take more than a R1 loss on any trade, and have the patience to enter the market only when your edge/setup appears.
Don’t think about the money, only pay attention to following your process perfectly.