DislikedThe way I play the S&P is a bit different than we do here but that's because I've traded it in my IRA for several years and this is just what has worked for me. If price hasn't moved up at least 5 points by 11:30 am, I'll take my profit at that point and call it good. I don't play the move at the end of the day.Ignored
11:30am EST: Price is at 1069.21 which is just shy of the 1071.17 I require to hold the trade another day. This indicates momentum is not there to push it higher during my 2 hour time frame. Trade closed for a profit.
Will it go up later today or tomorrow. Perhaps, but that doesn't matter to me because my method doesn't account for a second entry after a closed trade on day 1. In other words, I don't guess and I don't get greedy. I'll wait for my next signal.
Any day in profit or at BE is a good day for me...and my retirement account.