Jumped in right off the jobs report. I let the futures react up and then come back to a long entry point. Was able to easily get my initial 20 ticks, but the market stalled a bit and I only walked away with +2 ticks on the second position. First trade = +22 ticks. The market then stalled and was a bitch to trade. I was chopped around until 7:40ish (Cali time). During this time, I dropped 32 ticks leaving me at the -10 tick level. My thinking was "oh shit, here we go again - gonna get chopped up again". It's at times like this that you just want to avoid other long or short signals and sit on your hands, but you can't do that in this profession. You need to man up and take em as they come. My indicator then roared with screaming buys and I then reluctantly enter my long positions on both the ER2 and YM. Finally, a goddamn move. I was able to pull out +44 ticks on my ym position and +50 ticks on my ER2 position. Not bad for the morning. End result for the morning is below:
YM: +34 ticks (equal to $170 per one contract position)
ER2: +41 ticks (equal to $410 per one contract position)
I was able to find an appropriate momentum indicator last night. I applied that this morning. More on that in another post.
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