It turned out that the best trade of the morning was to fade the test of Friday's Point of Control at 1145. That was a good place to try the 3 to 1 trade. Enter a position size in multiples of 3, and after the market goes in your direction a few points, liquidate 2 and hold on to 1. You hold onto the 1 contract looking for a longer trend in a profitable direction. As the market goes in a profitable direction, you can use a trail stop for that 1 contract.
Charles
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