{"id":47086,"date":"2018-05-31T18:22:10","date_gmt":"2018-05-31T22:22:10","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=47086"},"modified":"2023-04-12T16:12:57","modified_gmt":"2023-04-12T20:12:57","slug":"try-again","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/try-again","title":{"rendered":"TOTD \u2013 Try Again!"},"content":{"rendered":"<p>We&#8217;ve gotten great feedback as we share trades from our new\u00a0Futures Desk\u00a0as a Trade of The Day! Today we&#8217;re back in my realm- that is, using Market Profile!<\/p>\n<p>Simple lesson today. <strong>Sometimes trades try and work, then fail. BUT&#8230;. then they set up again!<\/strong> I like to see my guys stick with their game plans, and refrain from recency bias (&#8220;but the last trade didn&#8217;t work&#8221;).<\/p>\n<ul>\n<li>ES (e-mini S&amp;P 500 futures)<\/li>\n<li>The main gameplan on the day was to have ES hold below 2714 to provide momentum down to the prior days &#8220;poor low&#8221;. (A poor low is a low of day where there was not a very convincing reversal from.)<\/li>\n<li>The trader tried the trade once (see first short entry marker), and it ultimately failed back above 2714.<\/li>\n<li>The trader didn&#8217;t start fighting the market or doing anything stupid<\/li>\n<li>Later on in the session, the market gets back below 2714 and holds<\/li>\n<li>The trader\u00a0<em>pounces<\/em> on the opportunity, just as they had before<\/li>\n<li>This time, they were rewarded with a move down into the target zone to &#8220;clean up&#8221; the poor low (market profile term)<\/li>\n<\/ul>\n<p>Here&#8217;s an intraday chart (2min chart) with the trade marked up on it:<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-31-18.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-47087\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-31-18-1024x784.png\" alt=\"\" width=\"700\" height=\"784\" \/><\/a><\/p>\n<p>First look at the (white) Market Profile graphic. We can see the key line in the sand (green box), the poor low from the prior day (red box).<\/p>\n<p>Now look at the (dark blue) intraday chart. We can see the first short, the stop out, then the patience displayed, then the re-entry short once it set back up. Great cover into the poor low at the LOD!<\/p>\n<p>Trade well,<\/p>\n<p>Merritt<\/p>\n<p>*No Relevant Positions<\/p>\n<p><a href=\"https:\/\/www.smbtraining.com\/blog\/smb-disclosures\" target=\"_blank\" rel=\"noopener\">Risk Disclosure<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;ve gotten great feedback as we share trades from our new\u00a0Futures Desk\u00a0as a Trade of The Day! Today we&#8217;re back in my realm- that is, using Market Profile! Simple lesson today. Sometimes trades try and work, then fail. BUT&#8230;. then they set up again! I like to see my guys stick with their game plans, and refrain from recency bias &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/try-again\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2144,"featured_media":47087,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5474],"tags":[5012,2444,383,2064],"class_list":["post-47086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-futures-totd","tag-es","tag-daytrading","tag-futures","tag-market-profile"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TOTD \u2013 Try Again! | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/try-again\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TOTD \u2013 Try Again! | SMB Training\" \/>\n<meta property=\"og:description\" content=\"We&#8217;ve gotten great feedback as we share trades from our new\u00a0Futures Desk\u00a0as a Trade of The Day! Today we&#8217;re back in my realm- that is, using Market Profile! Simple lesson today. Sometimes trades try and work, then fail. BUT&#8230;. then they set up again! I like to see my guys stick with their game plans, and refrain from recency bias ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/try-again\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-31T22:22:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-12T20:12:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-31-18.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1224\" \/>\n\t<meta property=\"og:image:height\" content=\"937\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Merritt Black\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Merritt Black\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/try-again#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/try-again\"},\"author\":{\"name\":\"Merritt Black\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/3ad641370a1819e23fdb8f22cdfc7e9b\"},\"headline\":\"TOTD \u2013 Try Again!\",\"datePublished\":\"2018-05-31T22:22:10+00:00\",\"dateModified\":\"2023-04-12T20:12:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/try-again\"},\"wordCount\":282,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/try-again#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-31-18.png\",\"keywords\":[\"\/es\",\"daytrading\",\"futures\",\"market profile\"],\"articleSection\":[\"Futures TOTD\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/try-again\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/try-again\",\"name\":\"TOTD \u2013 Try Again! 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