2020-05-05 Raffaele

+863$ with 1 trade in day 2 of the 150K challenge with Retailfade

I took advantage of the first bullish move of the day.

Will’s plan 1 for the day worked out a treat!

We nearly missed out on the move as the initial retracement as bounce has been so immediate.

I know I’m just giving out small bits of info, perhaps not something you can learn a lot from but hey,better than nothing, besides I’d like for you to hear these comments live from Will in the room, there is so much to learn from him…these are the notes I took on my thinking while trading (Will traded slightly differently).

bias is long, wait for a retracement; price moves up right away at open.
15:40 I take a long but then close it at BE (+2pts) because too close to the economic release and doesn’t seem so decisive yet. and I don’t have any good level to protect my stop loss.
there is liquidity just above at 2876, we see 2881 as a target.
not much of a response over the economic release. rotation up was over 10pts, rotation lows are small, this gives me confidence in the bullish bias, I might trade with 3 contracts even if I want to be very careful as I’m at the beginning of the challenge.
NQ seems to be pushing past a relevant level, tick chart bounced off a low.

15:47 I enter long at 2870.
I’d like to take profit before news at 1600. RTY and NQ both break levels above.
15:50 price moving up nicely, first 2 contracts close in profit, I move remaining stop loss to break even.
I flatten the trade before 2881 because I see some divergence and price is slowing down, with 17.75 pts profit.
16:13 cumulative delta is very weak and I want to wait for a larger retracement, to VPOC or 2867 to perhaps enter again long.
Target level would be 2900 but there is no liquidity now: I believe it will be on range and at most crawl its way up, I might get stopped too many times in the meantime, so I’m done for the day.

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Will is also posting every day his results in his blog, with video grabs of his trading room, check it out!

e-mail me for questions, happy to chat! 😉

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