It's been an awful trading the market this month of August and if you're not that nimble with trades, you will get chopped.
One very important lesson I learned this month is not to overtrade and not to succumb to greed.
Once you make a decent profit from a few trades in the morning, stop trading for the day or else you will just give back what you made especially if you are in the market the whole trading day.
Trading the market in the afternoon session is an exercise of greediness, for the market at this time are being controlled by the HFT's.
That's where discipline counts.
For today's session, the market drops in the open and made a dramatic "v" formation opening a reversal trade setup for long (arrow below).
You can add another share/contract when it consolidates below the pivot.
Exit at your own target from thereon.
