Yesterday the market was choppy, but most risk assets are finally starting to turn right now in London session. ES has been the most stubborn of the bunch, staying strong even after a none-stop 5% rally last week. I'll be keeping close eye on ES to see how it behaves and will make a decision on what I want to do with my SPY PUTS.
One of the challenges in trading in different assets with different levels of volatility is to mentally readjust to each instrument's expected volatility once the position has been opened. For example, yesterday morning I was getting really frustrated watching EUR/USD chop around by 10-20 pips all day. I was thinking to myself, if I had a CL position right now, I would have had a 200 tick move in 10 min, but I am sitting here watching EUR move like a turtle. But that's really the key to trading multiple instruments. EUR/USD doesn't move as fast, but it trends better, so it makes for a better swing trade than CL.
For now, I just need to have some patience, sit back and wait for my targets to get hit.
Open trades:
EUR/USD Short 1.4490 Target 1.4224 Stop 1.4625
SPY 134 JUL PUT @ 1.48
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