Trade 1: Price went my way about 10-11 ticks and I added another lot to the trade and moved the stop to match the original risk. This stopped out after going about 5 ticks my direction and after I moved the stop to within a couple of tick of the blended entry. Price was stalling near the lows and I figured it was over so no sense in risking the entire thing. -.08% loss.
However, I should have left the stops alone, after taking my stop, price moved up a few more ticks and then reversed back down for at least enough to have gotten out BE. Which is producing the temptation to chase it. I'm going to resist the chasing temptation if it kills me.
Trade 2: Got another chance at the same price as the original trade. Took it with the same original risk. It basically tested what look like a double top. At least for now it is. Wait and see. Added to the trade once it got going. Potential 4RR trade if it goes to the 100% extension. Closed it out as it started stalling around the 52.00-51.95 area. 3RR. It hasn't made it to the 100% extension yet and it might not. Regardless, its going to do it without me.
Ok, not the best execution today but good enough to make .55%. I'm happy with that. Time to hit the books. Its only 6:20AM AZ time. Cash market isn't even open yet and the daily range is only 62 ticks. Making money in a narrow range. I like that even better.
Here is the 15M chart with my entry area highlighted in the pink circle. Two entries in there.
By the way, if you want to hear great trading stories and advice, go check out Trader Dante on you tube. Freaking funny and smart.