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60 can be an excellent low risk short entry. Use a tight stop, since we might go higher.

Nice, @Buy1Sell2! :) FWIW, I'm anticipating at least 2650 today in RTH, but prepared for even more down side. Needs to stay below 2657 area though. IMO. :) EDIT: Friday's "half day" makes things a little more tricky to read.

I actually did it a few times. Once when being called a paper trader. :) https://www.elitetrader.com/et/threads/es-journal-archive-2011.233957/page-1067#post-3280316 I don't have any interest in calling trades any longer. It's of no real value for me and probably not for anyone else either...

I agree. Current direction is down on higher timeframes. That does not exclude up days or retracements. We're also closing in on levels below which might cause a reversal of direction.

Maybe. What if we then define it as a position size where a loss at your pre-determined stop level is nearly meaningless or one where you can take 20 stops in a row and still suffer no consequences? Contrast this with very high leverage where you're risking huge amounts on any one single trade...

I think the key is to create reliable entry and exit signals which have objective criterias. As a simple example, a MA crossover and stochastic value is objective. There is no interpretation. You enter and exit on signals as they occur. A more discretionary approach allows for interpretation...

Next week should be interesting.

It goes without saying that you should simulator test your methodology before going live, unless you're already a millionaire and can afford to lose money. But you shouldn't try to learn trading by simulator trading like it seems a lot of people do on here. Rough plan: 1. Observe the market...

A test of the low from 29th of October seems imminent. I suspect the bulls can only pray for a bottom similar to the one earlier this year (February and April). There are some similarities on this down move, but this one happened in a much more condensed time period. This is looking at the...

Keeping an eye on 2642, but the range might be set for today.

Remember - bear markets have up days also. Markets always retrace. :)

By the way - don't take it as criticism. I was merely curious if you didn't entertain a possible scenario at all since you seemed to very strongly believe in the bull market to continue and to make new highs.

Initially as in your initial call:

No, I did notice that short, @volente_00 :) I'm referring to your long term calls where you seem to be very insistent on SPX making new highs. Initially, in 2018, I think.

A double bottom may happen - but that's not an IHS, is it?

Thanks for sharing, speedo. Good stuff. :)

You seemed to have been calling bottoms since this down move started. The last one being the IHS that failed. The world might not be ending, but it seems like you and some others in this thread isn't even considering the fact that you might be wrong and that this is indeed the start of a bear...

Yes. But there were far more profitable opportunities that day on the short side. :)

Yeah. That was a really nice 8 point up swing following a 50 + point down swing. :)