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Brisbane, Australia
Posts: 95 since Mar 2018
Thanks Given: 72
Thanks Received: 26
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I don't like to do breakouts trades, I prefer breakout fades, I think if you see the market develop a range of a few ticks/points and you see in the DOM some support/resistance in the form of a refreshing bid/offer and accumulating print, I really think it's worth it most times.
Give the stop some room, there is nothing accurate or precise about the entry or exit, but it just kind of happens, these range plays, gradually it does trade back into where it was trading after a reversal from hitting some deep liquidity.
It may even trade against you 3 or 4 ticks but goes back into that range, you exit "somewhere" in it.. never enter in the middle of the range, enter at the top or bottom upon spotting a reversal.
Hmm, I'm feeling edgy. Perhaps I'm starting to get this game.
Today I had a loser after two winning days yesterday, the fault was I traded to late after the open and it was too quiet, as I was used to earlier times when the ES was too volatile at the open, this time I should have traded from the get go.
Come Monday I will be watching from the open and not make that mistake again, then I will hit it, spotting the fades, the reversals and the range plays with the breathing 8 tick stop.
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