Live ES Trade Result

Mixed result on the ES trade. I took 40% of the position off at 4 points profit (based on structure not profit) and the rest went break even. It was a very well executed entry. The exit was fair. It could have been better.

There was a bar that give me a pattern exit according to my plan at 15:42. I did not have the accompanying structure though. Part of trading is knowing when to be completely objective and follow your textbook procedures and knowing when to be SUBJECTIVE.

I decided to let this one open up with the understanding that I was risking a break even on the rest of the position. Over a sample size, if executed consistently, letting trades open up is more profitable.

There are many out there who say you should never give back profit in a trade or the you will not go broke taking profits. This is just plain bad advice that usually comes from somebody who is peddling a system or indicator.

I was down a little bit today in the ES. The week is still looking decent and the last 3 twenty trade samples have been some of the best I have had.