I had decided to sell the ex gap close at the open but prices were pretty volatile so I jumped in at S1
Bust seeing that I was in early and that it was a high-probability trade, I added more risk to the trade with a second entry.
But while these trades were open, I was thinking that this is such obvious trade, that there must be the world nad his dog in this trade with a stop above 10830. It seems that my gut was telling me the truth – I had to get out at CBOL.
Results for the opening spike trade are:
# trades 13 —- Winners 6 —- Losers 7
Overall result = -0.6R
Of the 6 winners, 4 made it no further than 1:1,
1 saw 3:1 and 1 made it to 6:1
I continue to practice this trade because it works very well in lo volatility phases and it teaches patience.. the trade is not the trade until it hits the level I have chosen.
