{"id":573,"date":"2020-05-17T18:47:03","date_gmt":"2020-05-17T16:47:03","guid":{"rendered":"http:\/\/market-and-us.com\/blog\/?p=573"},"modified":"2020-05-17T18:47:03","modified_gmt":"2020-05-17T16:47:03","slug":"take-profits-and-always-be-patient","status":"publish","type":"post","link":"https:\/\/market-and-us.com\/blog\/take-profits-and-always-be-patient-573\/","title":{"rendered":"Take profits and always be patient"},"content":{"rendered":"\n

Because I sold some of my medium term positions<\/strong> and I learnt to wait for the best setups<\/strong> in the futures, I decided to name this article: Take profits and always be patient.
But first let’s watch the S&P 500 future, ES:<\/p>\n\n\n\n

Market Ideas<\/h2>\n\n\n\n
\"\"
ES (daily)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

Market tried to break the 61.8%<\/strong> level on Monday, Tuesday and Wednesday and then fell down to test again the lower limit of the monthly range I expect(ed) price to stay in<\/a> for some more days.<\/p>\n\n\n\n

For me, two scenarios are possible:
1. A break above 61.8%<\/strong> followed by a top around 3000<\/strong> before turning down again.
2. A break of the 2800\/2750\/-20% level<\/strong> to the downside because of the double bottom price built.<\/p><\/blockquote>\n\n\n\n

Because it is 50% chance for both possibilities, I decided to take some profits to have cash for the next bottom:<\/p>\n\n\n\n

Portfolio Talk<\/h2>\n\n\n\n

I already have some positions running, so I won’t miss a move to the upside but I wanted to be prepared for the next move to the downside.<\/p>\n\n\n\n

Here are the three closed positions<\/strong>:<\/p>\n\n\n\n

a) Maybe the longest trade I ever had: MKTX<\/h3>\n\n\n\n
\"\"
MKTX (daily)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

It was a nice setup in March 2019<\/strong> and price went up with good profits, so my 2 targets<\/strong> were hit within one month. Then I had a (very small) third partial<\/strong> open and decided to let it run.
After I missed the top on 9\/5 in 2019 I set my stop at the red line. As you can see I had some luck on 3\/20<\/strong> in 2020. And after this nice run I did not want to risk my profits and sold at a good profit<\/strong> on Monday.<\/p>\n\n\n\n

b) Second chance for a better entry: MSFT<\/h3>\n\n\n\n
\"\"
MSFT (daily)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

After I went through the low<\/strong> with MSFT and AMD I decided to sell my latest medium term positions to get some cash<\/strong> out of it for the next lows. Maybe a better entry for MSFT or anything else.
But although it wasn’t the perfect position I got out on Monday and Tuesday<\/strong> (each 50%) with a nice profit.<\/p>\n\n\n\n

c) Struggling at the highs: AMD<\/h3>\n\n\n\n
\"\"
AMD (daily)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

For AMD the reasons are the same but in addition to that the highs were sold and I do not expect that price will reach higher highs<\/strong> before the next bigger move down.
With Infineon Technologies<\/a> (IFX), a leader for chip technology from Germany, I already have a position of this sector<\/strong> in my long term portfolio. So, I use AMD for “medium term<\/strong>” as I named it.<\/p>\n\n\n\n

With these 3 closed positions and my running last third in ACM (short) I am prepared for the next low<\/strong>. \ud83d\ude42<\/p>\n\n\n\n

Futures knowledge<\/h2>\n\n\n\n

After working much harder on my rules<\/strong> and psychological factors<\/strong>, the last week wasn’t only a green one – all days finished green<\/strong>:<\/p>\n\n\n\n

Last Week:<\/strong>
\u2022 Live account: +$0.00 (no change)<\/em>
\u2022 Paper account: +$53.55 (4 green days, 1 break even)<\/em>
This Month (May):<\/strong>
\u2022 Live account: +$0.00
\u2022 Paper account: -$63.96
[all amounts after commissions and fees]<\/em><\/p>\n\n\n\n

More important than the profits is the quality of setups<\/strong> for me. And the quality was extremely high<\/strong>. I was patient, traded far less than the last weeks and entered only when everything fit together well.<\/p>\n\n\n\n

A new experience and I hope I can continue the next 5 days.<\/p>\n\n\n\n

\n\n\n\n

With these words I will finish the week and I hope you could also already profit from the correction and the latest rally?
Stay healthy, take profits and always be patient!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Because I sold some of my medium term positions and I learnt to wait for the best setups in the futures, I decided to name this article: Take profits and always be patient.But first let’s watch the S&P 500 future, ES: Market Ideas Market tried to break the 61.8% level on Monday, Tuesday and Wednesday […]<\/p>\n","protected":false},"author":1,"featured_media":583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":""},"categories":[5],"tags":[130,141,113,38,60,159,148,111,152,139,30,34],"yoast_head":"\nTake profits and always be patient - The Market and Us<\/title>\n<meta name=\"description\" content=\"This week's title is "Take profits and always be patient" - read about my closed positions in MKTX, MSFT and AMD and my futures trading.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/market-and-us.com\/blog\/take-profits-and-always-be-patient-573\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Take profits and always be patient - 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