I think it was unanimous that everyone was expecting ES to trend up so I was wanting to buy pullbacks.
So after the open I waited for the first pullback to the VWAP. I scaled into this one as usual and got 5.0 pts on my second contract. My decision to exit turned out to be about 1 pt too early but after that ES turned down and is still below my exit as I’m writing this so I think my decision to exit was good. I don’t have specific reasons for my exit, I just was seeing higher prices attracting more sellers and buyers looked to be weaker across all markets.
ES pulled back near the VWAP (but not quite) and I got long again. I was hoping to add the second half at VWAP but it never made it. A sign of strength. After an hour, I had to go so I took 2.25 pts on that one.
I’m very close to being able to increase my size. I actually did increase it last week and didn’t keep to my stops and ended up with a big loss. So I need to prove to myself that I can keep my losses small before I add size. Soon I hope, possibly beginning of July.