- Small gap up
- A period checks back in upper distribution from yesterday and fails
- We start one time framing higher
- It looks very stable. Contextually we should have more covering potential
- I hit a 20P Target.
- I decide to let a runner run
- For me a runner is a trade that i let free of narrow trade management because i think contextually we have room for more (narrative completion, destination trade)
- On Friday i had a similar trade on the short side
Intention of runners
- The intention is to trade the structure of the day as a whole with a small remaining position
- I do this with minimal path dependancy. I do not want to get shaken out by normal contra rotations
- If it works you make big profit and you feel good, because you saw the structure of the market as a whole instead of having to scalp around small in fight with the algos
- In volatile times i sometimes need 2-3 trials before i am in a running trade. In that case i feel that i need to profit accordingly. If this goes too far and you trade your p&l instead of the market this is of course a big problem.
Problem with runners
- Volatility of p&L increases which has much effects: 1) Calmness of mind decreases 2) Ability to increase size decreases
- To balance these large disadvantages runners should have a large positive financial outcome. This is not the case
Believes to influence my behaviour with runners
- The market is full of intraday speculators (too long, too short, need to liquidate/cover)
- Money comes from size and size comes from stability