Hey Guys,
The market came back up on Friday and over the weekend. The MES futures are up around 4,025 right now.
And with that surge, I reached the profit target on my MES futures position from Friday. The stock equivalent SPXL position also hit its profit target. That turned out to be an easy, quick profit.
There are no new trades yet today. We've had pretty minimal trading activity for the last 10 days or so. It's not always like this, but to my mind, having days where I pass on trades and wait patiently is an important part of the trading formula.
It's just as important as taking the actual trades themselves. The whole scope of the trading plan needs to be honored in order to be in lock step with the back test, and that includes not forcing trades when there isn't a back-tested edge.
So I'm going to stay patient and keep my eye on the watch list and wait for trades to set up before I take any action.
If you have any questions or feedback, I'd love to hear from you.