Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Monday, February 6, 2017

+2.5RR

Today was slow, I anticipated being long but the 54.00 level was holding overnight as well as on Friday. So I began thinking about a short but didn't really see anything until my day was about over.

I had a chance to short 53.88 early on but I wasn't convinced and it was the break down below the structure which can sometimes now work so well. I figured I'd get another shot at it on the pull back but it took a LONG time to pull back and by then, I wasn't convinced it was short any longer. But it finally did pull back to almost 53.88 but I didn't get filled .

Finally I shorted 53.73, held it for a bit and then added to it at 51.71 and moved my stop to .125% on the combined position.

Price went to 2.5RR on the risk after the add so I was happy about that. The add on experienced no draw down at all and that is always a good thing.

Once again, I've left money on the table. But once again, one has to be satisfied IF one chooses to trade with fixed targets. And for now, this works for me.

I am taking a day off from school and all other forms of "work". I was busy all weekend and I'm tired and mentally worn down for some reason. So rather than force it, I am taking a free day. I have a couple of errands to do but nothing that requires mental fortitude.

Cheers.


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