Search results

HFTs are buying at the bid and selling at the ask, they can't lose unless they are doing something wrong.

There are plenty of false breakouts and reversals on the higher time frames too, the only difference is that you don't suffer from exceptionally high frictional costs when you trade the higher time frames. Take the ES for example, you lose 2 ticks (spread) + comm + potential 1 tick slippage...

Stocks went nowhere in the 70s.

That isnt trading, thats more like long term investing. I see trading (actively managing my funds) as a means to making a living, its very difficult to make a living with buy and hold unless you already have 10s of millions.

Or it could just chop around in a range for several years like what we saw in the 70s.

Like? Range and volatility usually collapses when volume tanks, sure you could trade chop but its extremely risky and the payoff is not usually worth it. The other alternative to trading chop is to "buy and hold", but I don't consider that to be trading.

This doesn't bode well for the future of traders. Perhaps its time to hang up and look for greener pastures. :)

stopped out for -5.75.

I think its both, but we've all seen this before.

06 filled, avg 4.35. stop 1410.

I'm just scaling in. My view is that this thing is going down hard unless we rise significantly above 06 soon. I see LHs and LLs on the hourly (trendline support @ 06 broken this morning), 06 also happens to be the pt where the fed minutes ramp up started. There was also a rejection of...

cxl offer at 04, still offering 06.

S1402.75, offer 04, 06, stop 1410.

No strong rejection at 1415 and we are breaking out now, looks bad for the bears.

cxl 17, 20 offers. flat 13.

add 14.75

S1415.25, offer 17, 20.

You moved your stop 13 points? :eek:

1415 by next week, that will be the first test of the bulls' resolve.

Potential LH on ES hourly. Also tweezer top on SPX daily if we don't get a HH today. Hard to believe we arent actually going to test ES 1415 when its only 11 points away though, still sitting on hands now... :cool: