Was out again today so I did something I try to keep to a minimal; that is I left a limit order at the Value Area Low with a 20 tick stop and 21 tick take profit.
There’s nothing wrong with doing this — but I prefer to watch the Time & Sales when we hit a level before deciding if I jump in or not.
However, if I know I’m going to be away from the charts but still like the price of a trade at one of the levels, I sometimes just leave a limit order in with a single contract to capture a move.
I don’t ever do this at POC, but at VAL or VAH I’m okay with it, occasionally.
My Trade:
Trade 1:
LONG 1 CONTRACT at 2,680.3
TAKE PROFIT on 1 CONTRACT at 2,682.4
Total Outcome: +21 ticks
Futures Trading Prop Firm I Use (60% Discount)
Executions + Trade Reason:
Trade Breakdown:
Limit order placed one tick above VAL.
Order triggered, -20 tick stop loss accomodating for “chop”.
Bullish reaction at VAL, price runs up to POC (my take profit triggered at +21 ticks).
Commentary: A perfect limit order trade. The only thing I wish I could have been there for is to trail up my stop and trade up to POC to secure more of the move, but can’t complain with +21 ticks at all!
Friday Levels:
The levels I’m looking at going into Friday are:
Value Area High: 2,695.8
Point of Control: 2,689.7
Value Area Low: 2,685.2
This week has been beautiful. One more day to go let’s hope this week closes off as an all green week!
(Btw, I will be streaming today at 11pm EST on YouTube. If you miss the live session, the recording can be found on my channel under this Playlist.)
Catch you tomorrow!
Cheers
~Cammy Capital
Discount Links:
Futures Trading Prop Firm I Use (60% Discount)
Bookmap 20% Discount (Code: CAMCAP)
Footprint Charts I Use ($15 Discount)
Disclaimer:
I am not a financial advisor. All content produced by me here or anywhere else on the internet are strictly for entertainment and educational purposes only. Some of the links contained are affiliate links, meaning I receive a financial kickback for when you sign up for their services. I only ever promote products and services that I personally use and trust myself.
CFTC RULE 4.41: “These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.”
Disclaimer: There is a very high degree of risk involved in trading. Past results are not indicative of future returns. "Cammy Capital" and all individuals affiliated assume no responsibilities for your trading results. All information conveyed is for educational purposes only and should not be construed as investment advice. Your use of this information is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.
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