Got two trades on JD one to the long side and another to the short side. the long trade was after a huge gape up and the sellers came in a sold off heavily. What I was looking for was an opportunity to get long after it proved it was trying to go higher. Being up on the day, the bias of the market suggest that it should go higher. The price action was a bit choppy here and did not indicate a clear direction. I sat on my hands for the 1st 20 minutes of the day waiting for a potential entry. I was patient and waited for the signal of a higher low to start my entry in the trade.
My entry here was on the continuation to high of days. When JD didn’t take out the high I got out of the trade. I also took a short trade which I should have held longer. Once it put in a lower high my risk was set on that high. I should have held longer on the trade. With JD, I got the opportunity to get in on both side of the trade which is rare for me. JD was up on positive news, so I wasn’t looking for the short trade, what I was looking for was a continuation of the gap, a gap and go style of trade. This would have been ideal. Another green day in the books for me. Nothing more I can ask for.
P&L: $63ish and change. Small but in the right direction. I continue to hit singles with my trades, when the perfect set up comes a long, I will get a double, triple or even a homerun($1) when I have a decent amount of size on.
Currently, I am just happy that I can continue to have these green trades and continue to move forward.