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I like the saying, "You don't get anything from trading, you just get to play tomorrow". I can not remember the exact way it went but I think I am close.
Alright the weekend is here. This coming week I will continue to control how much I am willing to risk on each trade. I have started trading the MYM which to me seems tamer than the MES. Seems to be less whip saw action in the MYM and the liquidity is very similar to the MCL, which I traded some this past week. On the MYM my stop losses will range from 3-10 ticks. These stop losses will be actual orders and not just mental stops. For winning trades I will move my stop up like a trailing stop. If the trailing stop does not get triggered I will exit the winning trade at the end of the day. The main thing I want to focus on this week is to control risk with stop orders. Hope everyone has a great weekend!
I am coming to the conclusion that I must either pay the market or my broker. Pay the market with larger stops or pay the broker with small stops. I am glad I have a choice!
Very nice and quiet day! 45 round turns all in the MYM. Small daily range for the MYM only about 300 points. Maybe tomorrow there will be a little more action.
A fairly small trading range in the MES. I did three trades, one in the MCL and two in the MES. In the MCL i set a tight 10 tick stop and was stopped out with 2 ticks of slippage. I took on two trades in the MES with mental stops in mind. Both trades went in my direction and was able to implement a trailing stop. The trailing stop was triggered on both trades resulting in small gains.