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My guess is this goes on to make new highs, but the top for this 6 year bull market is most likely in, another round of massive liquidation will occur soon after SPX hits a new high, many will get whipsawed by this and they will stay bullish, thats how they get taken to the cleaners.

Its usually too late to deleverage when volatility spikes, the best advice I have is to use as little leverage as possible.

This rebound is long overdue, the market is down huge 6 sessions in a row, I don't think this means that the bottom is in.

This is the dream market for daytraders! Grab those coins!

I would have gone all in, its risk-free! :D

Most people cannot beat the S&P500 because the benchmark itself is "managed", its rigged to move higher over time. http://www.bloomberg.com/news/articles/2015-06-15/morgan-stanley-it-s-tough-to-beat-the-s-p-500-and-this-is-why

There is nothing wrong, such swings are consistent with the size neke is trading. If he can make 33% in a month then losing it in another shouldn't surprise anyone. Imo one is bound to blow up sooner or later trading with such high leverage, an abnormally long streak of losers is all it takes...

This is typical ES price action. Slow, grindy and boring. Just the way long term investors love it (and day traders hate it).

I agree that 15 points isn't so bad but only if its not the only move of the day and its RTH range. Look here I'm not trying to say that day trading sucks and nobody can make money day trading, my stand has always been its dependent on what the market is willing to give you. I stopped day...

My beef is with him claiming that there are a few big moves everyday, thats just patently false. If you look at the statistics he provided, its clear that most days don't see a range thats greater than 15 points on the ES, the RTH range is probably far lower than that, probably 60% or less.

Don't get your panties in a bunch, I know there will always be tradeable days in a month, I did not dispute that, my objection was towards your claim that there will always be a few big moves everyday. That is definitely false unless you consider 5 point chop and the occasional 10 point move to...

You can't swing trade, not with that kind of leverage, and I know you must be taking on a massive amount of leverage because the ASX didn't really move that much today, only 1ish%, that shouldn't have caused anyone to lose 5% of his account unless he was heavily leveraged. If you think trading...

I hope you didn't get that large drawdown from a single massively leveraged short term day trade, you have been advised not to trade that way, you now know the consequences... I hope.

But even those only trade 24/5 (actually 23/5), not 24/7, so gaps can still occur.

Well actually holding period does affect this relationship because time in the market = risk, holding a position overnight alone exposes the trader to more risk because he cannot control risk adequately (due to possible gaps).

How is it not as risky? The shorter time that you spend in the market is more than offset by the extra risk that you take with the crazy leverage. With crazy leverage all it takes is a move like the EUR/CHF slam that we saw a few months ago and you are done. Gunning for a bigger move with low...

$15-25 is massive in terms of frictional cost if you are talking about the ES, the typical day trader makes several trades a day so costs add up quickly. It doesn't take much to destroy a day trader, afterall casinos only have a very slight house edge in games like blackjack (0.28%), yet they...

No there definitely aren't a few big moves everyday, there will be dull days when price just doesnt go anywhere, this is true even for a volatile product like the CL. In fact dull days are more like the rule and not the exception these days since volatility has crashed. Why are 10 tick moves...

Do you think a 50 or 100 point move on the ES is the same thing as a 5 or 10 tick move? They are obviously different, it takes a lot more commitment i.e money to move a market 100 points, whereas a 10 tick move can happen without any real change in commitment. The lower the timeframe the...

It is possible, but it depends on market conditions. Daytrading a market with very little daily range is usually suicide, you need sufficiently large swings to overcome the very high frictional costs of daytrading. For example if the cost of initiating a trade is 1.5 tick (comms + spread) and...