FTSE is looking a bit uglier.
I jumped in and out for two BE trades because it wasn't dropping.
I got back in for 12.5 risk (would have liked less).
Now I'm going to hold it.
Could go either way though. Not convinced!
One of the greatest ways that I have thrown away money over my time trading has been getting in and out of positions in ranges like the FTSE chart above. There are so many natural fluctuations within such a range, and I find it's better for me to just leave it and cop the 10 or so point risk. It's easy for emotions to take over each time it gets to the top or bottom of the range. I get in and out and end up losing more than had I just held originally.
So as long as my larger time frame analysis is good, and I'm at a good support or resistance level, I like to set it and leave it.
Hard to know what to do with that DAX position.
I'm holding 5 contracts.
But the 5 I exited... price wasn't moving much. Really stalling.
But the chart is in a good place where IF it falls, it's going to be a big move.
If this collapses, I'll regret lifting for such a small gain.
But this is the balancing act of trading!
Just a quick trade on the FTSE.
I was expecting it to push up, so I waited for the push down on open, then a retest of this area. When price looked like holding, I entered.
There was no technical reason for me to exit there exactly but I'm not looking for running profits here. Sharp move up. Probably could have held the first one another 10 points like the second one but I wanted to take some off.
If I were to have set a target based on the best technicals probably around 7440.
Happy to make 64 points ($640) from 14 risk, in 45 mins.
Now I can turn it off for the evening and have dinner. Happy!!