Click on chart for comments on the ZB Market trade today.There were 2 different trades today. First one made $500, and the second one made $781.25 on every 2 contracts traded. Today, I would like to comment on one over the other. The first trade took it's sweet time getting to the profit target, and on a pullback took out the second contract.
I, personally like to see a quick move to the profit target like in the second trade. The second trade made the profit target in one bar, and the average daily range high was also taken out before any pullback came into play.
As you can see, the second trade was stronger and had more pull than the first one. This is a good case of how momentum can work for you while you are in a trade, and in this case it was able to carry you to the average daily range high.
I placed my long profit stop at 115^08, but I was toying with that number and 115^10. In the end, I went with an exit of 115^08.
One note, if you were trading 3 contracts or a series of 3, there was an opportunity to trade on the greenline and exit on the 3rd contract at 115^06. Today, I made the decision to only trade the 2 contract series and not the 3 contract series.
My thoughts are ... I have made a lot of money in September and October, and more importantly, I want to take it with me and not give it back.
Good Trades,
David AKA Tiger
P.S. I saw no trades early yesterday, and I took my kids to the ZOO. Another key to being a day trader is being able to take time to smell the roses. Just my humble 2 cent opinion on trading here.
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