robster970
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My assignment in Europe is coming to an end shortly and I have been dialing back into trading again on smaller size than when I left it but just generally getting a feel for things again.
One thing has struck me which I never noticed up until Monday of this week.
When I take counter-trend reversals I just flatten when the move expires and I never consider hitting the 'reverse' button and taking a trade in the all-in direction.
I can only put this down to relief when I flatten that I am out of the market and the uncertainty has been resolved on a psych level.
Let me give you an example on today's trade on ES:
Long - 73.50 @14:49GMT, out at 75.25@14:56GMT
All-in direction (by my own assessment) is short, based upon 30min chart.
If I had reversed I would be up about 3pts now and would be trailing the trend downwards, knowing it will likely test the low of the session again before it goes north....
So I am curious, how many of you out there reverse positions when you see an opportunity?
One thing has struck me which I never noticed up until Monday of this week.
When I take counter-trend reversals I just flatten when the move expires and I never consider hitting the 'reverse' button and taking a trade in the all-in direction.
I can only put this down to relief when I flatten that I am out of the market and the uncertainty has been resolved on a psych level.
Let me give you an example on today's trade on ES:
Long - 73.50 @14:49GMT, out at 75.25@14:56GMT
All-in direction (by my own assessment) is short, based upon 30min chart.
If I had reversed I would be up about 3pts now and would be trailing the trend downwards, knowing it will likely test the low of the session again before it goes north....
So I am curious, how many of you out there reverse positions when you see an opportunity?
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