Emini Trading on Friday the 13Th !!
I am not sure how often Friday the 13th rolls around. But I do know when it does, I get a lot of emails on Thursday the 12th asking this “Dave, would you trade tomorrow?? You know it’s Friday the 13th!!”……..
Well I suppose if you are looking for an excuse to take a day off, that works. But I am not superstitious and the markets are definitely not superstitious. Maybe there is bad luck on Friday the 13th, maybe there is not. Who knows?? I sure don’t. But that does not keep me from trading! Even if I open up with a losing trade I am not going to attribute that to a day on a calendar! We take losing trades ALL THE TIME – after all its part of the business.
Today is a good example: Most of us started off with an EET trade for a One and Done trade! Awesome, right? Yes, but not everyone took the EET trade. Some went long the Pullback trade and lost 6 ticks. They then had a High Probability trade (NSE out of NO Zone) that lost as well… Friday the 13th, right?? NO!! It’s just losing trades!!
Fortunately (A word you don’t see on Friday the 13th) we had some AWESOME recovery trades that allowed the emini traders that started with a loser to recover, and profit, by 10:45 or so. All and all it was a pretty good day and an incredible week. The VIX really did not move much, but the markets sure did and we had a lot of one and done trades this week as well!
Have an awesome weekend everyone!!
Cheers!
-DM
ps. A reminder to those interested, the etsProTrader Automated Strategy will be coming off the market Sunday evening. Contact us for more info!
