The only way to make profit in trading is to let your winners make you as much profit as possible. This morning is an example of how I failed to do this. Recall wwe where long QID off of opening price momentum. I was nervous by the low volume and choppy price action right before the typical lunch time so we closed the position. took a small profit, but was this a good trade. Looking back I would say no. Yes we made some money, however as I had mentioned the sectors list was still very week and we had not taken out our flip zone(more on this later) yet. Well lunch volume never really settled in untiull later and we missed about a $1.00 move in the QID trade. So was this morning trade a good one. Not really . What I am more pleased with tho is the fact that we panic and go chasing it.
Oh, by the way we did fill that gap from friday so thats finally off my mind hehehe. Below you can see the numbers fill in on a market profile chart. The m prints are friday’s high and you can see today’s H period just touched them. That will act as strong support so keep an eye for a decent pullback to the long side here and maybe for the market to start looking for its next level of “fair value”
