nextlife

Hi Jon I also trade the ES. My default bracket right now is one point stop and 2.5 points target. What I am looking for is my trade to go green right away. If it doesn't, I am looking for the door. Once I am in the red, if the trade goes green and then comes back, I am looking to exit at BE. I got a string of BE trades the past couple of weeks but I'm not complaining because those are all trades where a) my entry wasn't great and B) all I paid for the shot was commissions. If a trade goes green by five or six ticks, then I can decided about moving the stop. As far as reentries goes, if I have a level I am really sold on and I take a stop--whether it's BE or a couple of ticks-- and the setup hangs around and still looks good, I will hear myself saying "I still like this." Then I'll take the same price if I can get it. Maybe I get stopped again but when a setup looks good, that's what it's all about. You have to get your money down then, right? I see pro traders and mentors saying "Forget about losses, move on." I don't find that easy. I usually end up reflecting awhile and sometimes that means I miss a nice move that I knew about but lost my concentration. That's maybe time to go work in the garden for awhile. My two cents. Best of luck regrouping.