Today a live trade was made.
Unfortunately, the trade was not as good as I would hope.
Fortunately, it was not too bad.
Two trades were taken. The first was after a forceful down move shortly after the market open. A large volume spike was seen on the chart and the market reversed direction. Several up bars were seen and a trend line indicated further up possible.
After the trade was entered, the market went a tick in our favor but then reversed direction on a comment by the Federal Reserve Chair Person. The software executed a fixed stop loss protection and a 4 tick loss was in the books. The chart is below:
First trade at 1971.25
with -4 tick stop
When the first trade failed the market seemed to want to reverse and an entry short was made. This trade went in my direction about 2 or 3 ticks and then reversed. I manually exited the trade with a 1 tick loss. Had I not taken the stop, the 4 tick stop would have been hit resulting in a 4 tick loss.
After this trade, the market went flat and the Fed Chair Person was still talking so I decided to stop for the day or at least wait until a direction was determined.
Second trade with a 1 tick manual stop