A trader walks through a live intraday trade, buying at 67.78 after spotting a wick rejection and low contract volume signaling a reversal. He moves his stop to breakeven quickly as the trade moves in his favor, then closes and opens a new position targeting lower levels, emphasizing the need to rapidly change trading ideas.
That's what you need to do as a trader. 3,000 contracts means there's less interest in trading at these levels. We might be reversing. Okay, let's engage. So maybe a little bit early as we have the pattern on the wick and some rejection starting on the sell side. I'm willing to engage with my stop above 67,78. I'm going to put a buy stop above here. And again, we got seller engaging. Mathematical. Oh my God, what a session. I engaged maybe with a little bit of anticipation because I saw some of that momentum ignition starting from seller. I was willing to take a couple hundred dollars worth of risk for potentially making a really good reward. Reward. I can almost put my stop loss at breakeven very quickly now as I have this imbalance defending my trade. And if it gets broken out, this could be an invalid setup. We close our trade around here and we open another trade with a very tight stop right above here, aiming at these lows over here. That's what you need to do as a trader to get the most out of the data. Changing idea very quickly is probably the biggest single most important lesson I've had from Fabio and from all of these amazing traders I've learned this craft from.
