Thursday, April 2, 2009

ES 10:50ET & Consistency

Like yesterday's trade, the intraday pattern left alot to be desired but passed my criteria for taking the momo reversals. Higher timeframe resistance was great...

I'm happy with my execution on both parts of the trade, winning and losing. Where I'd normally let my stops take me out and call it "end of trade", this time I thought I'd "press the edge" as I like to call it. Both approaches are as good as eachother in that they both have pros and cons and will move the equity curve in different ways, but the worst thing to do is jump between the two approaches.

So I'm sticking to what worked before and will take the result of the first trade, especially as past trading results suggest being stopped out for a small gain relative to the risk increases the odds that the pattern will fail.

It's becoming more and more apparent that a consistently rising equity curve is dependent on a consistent thought process and approach to the markets.

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