China PMI was decent so we have the ‘Asian Levitation’ happening. But, here’s the thing. I have backtested strategies that absolutely require ignoring everything between 5pm CT and midnight CT on Sunday night because the ES is so thin. I have a limit order in up @ 1419.50 to short another contract but it hasn’t been hit, yet.
So far things are about as expected, it would be good to get filled a bit higher on another contract to bring breakeven up, but not strictly necessary. Keep in mind, there is a lot of leverage in the ES and being able to manage a trade is just as important as being correct on direction. Let me say that again so it sinks in. You don’t have to always be correct on the entry, but being able to manage the trade (and the leverage associated with it) is paramount to working out of trades that may go against you initially.
I know, this is Blasphemy, but it is also 100% true.
