Weekly jobless claims pre-market came in softer than expected and the indexes reacted like you’d expect them to, by ticking down a bit. Once the market opened we were caught in a range until 10 a.m. when we caught an unexpected bid. I did not see a reason for the uptick so I stayed on the sideline. But once ES rejected in the 4766 range and fell below ONH I had a feeling we were going to continue this weeks trend and go lower. When my edge: the cusp trade appeared at 1.40 p.m. I quickly entered a short. I exited before the close for a profit of R1.2
Waiting for your high probability edge to form is the name of this game. This is an A+ trade. This is a setup you have seen turn a profit many times before. This is the kind of trade to take. Taking anything other than your setup is a random trade and you want to avoid anything that is random in our business.
Like I wrote yesterday, all trading is a probability play nothing else. You wait for your setup and then you execute, what happens after you enter the market is not up to you but to the millions of algorithms, bots and other traders - you have no control over what they do, you take the small loss without getting your ego hurt or you take how much you can out of the market depending on the level of your trading skill.