Trading Journal – Open Momentum “echoes”

Today (Monday) traded the same way that last week did, and so I took the trade on open (which I normally don’t do) just playing the echoes in time.

Last Monday pre-market lifted into NYSE open, and then short momentum picked up. I remember watching futures open and being surprised by the lift last week. You can see the lift out of Europe into NYSE Monday, April 22 2024.

I remembered watching last week with the same sense of confusion at the rallying into NYSE open, and the memory was fresh enough to get me to enter a decent short on the first boost after the bell ring.

This isn’t a play I normally take as I can’t “see” the money moving in the market this early in the day, but it was such a fresh memory, that I entered 5 contracts when I saw how similar it looked.

The trade shaped up within 7 or 8 minutes and I closed the entire position at the first sign of support. Gotta take what the market offers these days!

Once I saw a really thorough retracement, I put 1 contract back on short to try to grab a bullet for the next trade:

That worked as well but at a contract of weight, it’s only ammunition, not real gains. Nice trading day still, netting about 1%. That’s my “one good trade” for the day. It doesn’t fit into a playbook entry today, but was more of an intuitive move, and it worked very nicely. I am waiting for the huge setup still, haven’t had a real banger in a bit. I’m enjoying the practice of patience to be honest. I’m learning to take what I can get and to be happy with that. Celebrate aggressive patience. Once the stars align, you’ll make it all in minutes. You have to keep your account together and not over trade if the market isn’t giving you the A++ setups.