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Looking back to Friday's trading day session, it looked almost exactly like June 2. Big Employment report followed by massiving buying then a big sell off. Aug 4 hi on SPY was 129.43, June 2 129.43 exactly the same. The big difference however was the 50 day ema on June 2 was 129.63 and Aug 4...

Nice trade Romik!! B1 what more can I say about your price targets...... No ES trades for me. I think I'll just wait for the FED action to play out Tuesday and then determine a more optimal add to my position.

No adds for me yet. Im going to wait for 1300-1320 and then look to short more. Breakeven right now is 1300 so 20 points above that will be optimal for me. Scalped the ER contract short though. Damn that can green one up fast!!

Just a reminder every 250 or so pages for the new people. The man clearly knows how to read long term directions!! I guess we can call him Mr. Cool for now :D

Both, Im still trying to figure out where and how to take profits. But if this is chess, my positional (1280) is the king piece. Short term intraday trades are the others protecting the king. Anyway if we break 1270 I'll cover one more and let the last one ride. I would like to see this...

Here is a chart from 4 years back showing the relationship between the VIX and the equity markets. The higher the vix, clearly the lower the market averages July-Aug-Nov 2002, and as it flipped the bulls gained control; after the Afghanistan, Iraq and now Israel conflicts its even more clear...

No trading for me today just watched it. I have yesterday's positon @ 1280, looking for add in the 1290-1300 range. B1 did you close any of your longs today? Like usual your price targets are being hit. Good trading there too Romik.

Thanks, my first ES trade this month. At least it was a good one.

NQ covered @ 1491. Also 2 units ES covered @ 1270, 80 entry. Breakeven on ES is 1300. Will look to add more above 1290. The 240 min chart came in hand today!!

No ES trades again for me. Wanted in @ 1280 or above. Shorted NQ @ 1505, waited for all the Beige book madness to subside. I really should have got in ES but I guess I got a little too picky on the exact number. Looking for an entry between 1280-90. Tommorrow I guess.

This is what I'm doing also starting in Aug. This is totally unacceptable.....

Step away for a few days. Also maybe look for more trending markets that you can try and ride for a bigger gain (NQ etc). Frustration is a part of trading. If you stick to only trading in the morning this may help you out as well. There is very little margin for error in the afternoon session.

That number is the 50 day ma as well. Should be solid support. No Trades for me once again, but this time due to broker issues (tradestation). A flaky data feed can hurt with this type of intraday action. Wont have my new account open until aug. Unless we get above 1280/90, looks like I wont...

Down for me too. Unreal....

TS was my main broker until now. I am transferring funds into another broker at the end of the month. Will leave a minimum amount in the account just for the charting. I think its 9 futures round trips a month and the charting is free. TS just not reliable enough right now.

Out for me too. Just plain froze......

No trades ES yet for me. Until we break this 25-30 point channel, I dont trust any of these moves. Im in short anywhere @ 1280 or above. If they can stay above the 20/50/200 day today there maybe more follow thru tommorrow. For the moment I will keep trading crude oil and gold because of...

Great job b1s2 and Romik!!, now thats what I call "monster" sticking to your trading plan! Excellent.

No Es trades today again. Hit QM again (short) another really nice trade. Going to look for an Es trade now (long). Flat as of now.

I agree, anyone with a 5k account should not attempt any of these type of trades. I've built my trading around divergences and reversals and will continue to trade this way until the markets show that they can trend consistently.