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If the ES would have plummeted your monkey would have been on top of the hill. It was the good thing todo imo to get out before the announcement. A lot of prop firms would require you to do so too.
Today I had one of the strongest signals from my system.
I use 6 measures for my entry direction and 5 of them were sell!
The other 1 was neutral.
It did NOT work out. In fact, it's a substantial move against my entry. However, my position sizing was kept at 1/4th of usual size and hence it's a much smaller loss.
Lesson learnt - Strong signals (pre-market) doesn't mean bigger position. Price action is still the king and hence the size goes up only when the trade idea is working.
Bulls and Bears follow signals. Pigs follow Gut feelings.
I had a buy signal. Not strong but 3/6 Buy with 2 neutral & 1 sell, it's not bad and I should take any day.
However, it didn't FEEL right. Expected chop on a Friday and last trading day of the month. So, I stayed out in the sidelines. May be we rallied up too much this week? Apparently not.
Missed opportunity should be considered as loss. Technically.
I'm not being hard on myself as my regular job is more than busy. Just a helpful reflection. I'm happy that I am able to feel the pulse of the market and trading intermittently.
I was up early, did my prep and roaring to trade! However, opening exactly where we closed yesterday was a bummer and the 1st indication of chop. My indicators were very mute and I wasn't ready to give up yet. Once I realized I was trying to squeeze a trade, light bulb went on and I stayed out of the market today.
Less than 30 ES points a day. Less than 40% ATR! Seriously!
Signals were neutral with a slight bearish bias post job numbers.
Glad I waited for the vicious bounce to stall. Short didn't work out but never had to experience pain.
Didn't expect a new LOD and hence would have locked in profits at the retest, ideally. Still only spending 5 mins for prep and not watching intraday. Will change from next month to fulltime again.