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TT is abbreviation for TigerTrader. He is sort of legendary in this forum. He still posts occasionally. However, he said lot of insightful stuff over the years and they can be found in SPOO analysis thread.
Not the most organised thread, as hundreds of other traders had dialogues over there but I think that has its own educational value. Be prepared to spend 'weeks' reading the journal.
For me, that's the second most interesting thing I watched in my laptop. Game of thrones is the first. Obviously.
I was lucky to get a deeper pullback and bought at discounted price of 4384. Sold it for 10 pts gain and covered my runner too. Its 10.30 PM here and wanted to call it a night.
Pilot short @ 4350 and then scaled in 3 more contract above 4360s. Took partial profit of +10 pts but still heavily short.
Despite the bounce up and gap closure, my bias remains bearish and hence, I will like hold this till EU close or atleast 30 ATR. That nicely sits below ONL to scoop the stops. Let's see.
It could have been lot worse but I was lucky to have deeper pullbacks late in the session which allowed 1/2 my position to exit breakeven. The rest was covered after US close in the 60s. Both those decisions i.e allowing unsupervised position after EU close and carrying positions after US close are inherently risky but taken with good understanding of risks backed by stats. MAE tend to be limited and I often get decent pullbacks, like today or even reversals.
I have ruthless discipline now in closing my losing positions when I wake up. No mercy. Hence no worries.
I will long from open and then will look to buy the dips.
I expect an inside day, perhaps with narrow ATR of 30. I think R1 @ 4346 is a reasonable target for longs. Pivot and Y-C are good support levels. Let's see.
My long trade is NOT getting much traction. I am under water but manageable. -25 points so far. I covered 1/2 and may leave the rest till EOD.
My entry locations are not pretty today. I did buy the dips, as mentioned in my previous post but I should have been more conservative. Sellers kept coming and pushing it down but I thought buyers were accumulating. Perhaps they did. I will know later today post EU session. At least I covered some of my longs as I saw more evidence of weakness and hence limited my loss. Should have done better. Will keep trying.