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Good idea. That makes perfect sense in that respect.

How do you know when the bottom prints?

Puffygums summed it up perfectly. No chart could have told you if your ES trade during that time would have been busted or not - leaving you in a position you didn't want to be in. That is more than enough reason to stay away from moves like that.

Well, i can agree with everything you said - except my problem is I had no way to know that a move like that is not going to last long. Somehow, you say you did. I guess it's just a matter of risk - I'd rather sit out insane moves like this than play them.

If you "know" that someone sold that many cars - why is it "about 5000 - 15000" - a 10,000 car range?

Of course! Right before it happened - in anticipation of the move, I would have switched to 15second charts or smaller - obviously! I see what you are saying now. :confused:

And what clues would any chart have given you that the drop was not due to India nuking Pakistan, or President Bush getting shot or anything else that would have been "real"? The fact that it happened and was over in less than 2 minutes makes me think you've gotta be kidding that you'd...

Oh please. Anyone who "traded" that spike today and made money was simply lucky. Pure gambling to trade a move like that, and BS to anyone who says otherwise.

What was not fair about todays market?

Notice that only those who were long ES before the drop are saying the trades should be busted? LOL. Anyone who made money thinks the trades should stand.

LOL. Was wondering if YM had price limits like ES/NQ. Limit down on YM is 900 points! Insanity.

Hmmm, GG - Did you miss my question?

What was it that she didn't understand? The mechanics of the market (i.e. what ES is, what a chart is, what indicators are) or how to make money in the market?

BTW - Ensign users using "Price Histogram" to do this - beware. I've had some odd issues with the bands calculating differently depending on how I have my chart scaled. Changing the vertical scale of my chart many times changes the values of the range bars - which makes no sense - they should...

Use "Price Histogram" in Ensign.

I wasn't being negative at all. If we go to 1020 monday, your trade will be a loser. If we go to 960, it will be a winner. Otherwise, it isn't even complete yet - thus how can you can it be a good trade or a bad trade?

LOL. Where do *YOU* get your random information from? The CME doesn't have "intraday" margins - only overnight and maintenance. Intraday margins can be whatever your broker wants them to be - since they are only valid on positions that are closed out before the close, and thus not...

Thought you said you were holding until 960 or 1020 stop? If so, you aren't up squat yet.

Does this only apply to casinos in Ireland?

Welcome to the fuzzy world of tick charts. First question you'll want to ask - "On my chart - when is the first tick for the first bar?" - because that will make a difference where and when bars later in the chart close.