Today, I am starting tweaks to my US30 opening trade. I want to go long at the end of the first 1 minute bar after open. If it has a solid body into one direction, I will trade its continuation of at least 100 points with a stoploss tightly behind the bar. In this instance it was a profit of 100 pts compared to a potential loss of 62 Pts. It worked very well today.
Within an hour the Dow climbed 180 pts to daily R1. This made for a fine 1 to 3 risk/reward ratio with a possible move to break even right after the first bar. Some rockets launch without mistakes, don’t they.
Lesson: Stay in the trade for as long as possible if stoploss can move to breakeven.
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