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8/8: SPY: -$64,296 hedge: $7,304.76 Net for this trade: -$56991.24(unrealized) +$1,223.60 (realized) +$2,931.69 (realized) +$1,129.72 (dividend) -------------------- -$51,706.23 I really wonder how much lower we're going to go. I don't have enough account equity left to be...

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Nested H&Ss

Don't want to deal with rolling over, and I get paid dividends on SPY. Sell for a profit at some point in the future. I'm not hedged as well as I could be, but I have no idea how low price was going to go so I closed half my hedge (for profit) a few days ago. I scaled into weighted ETFs...

New SPY position: 5,700 shares @ $123.54. I'm considering the possibility of future positions being purchased in SSO in order to use margin without really using margin.

I'm quite serious. I just got 2,500 shares of SPY @ $115 a few minutes ago. I post all my trades in real time (or as close to real time as possible) in another thread, and have been doing so for months. Agreed 100%. I'm drawn down quite a bit right now. I don't care. In the meantime I'm...

Bought 2,500 shares at $115.

I know H&S as a general shape. Is there supposed to be a ratio between shoulder height and top of the head? And you mean inverted head and shoulders here right? (sorry, I'm not too familiar with chart patterns)

I'm still not seeing the head and shoulders. Can you post up a quick chart? Are you looking at the dailies?

I prefer to average down, which I have been doing into SPY over the last few weeks (although I am also hedged a bit in case things keep going lower). Next buy is at $115.

So like 100 points below where we are now? Can you post a pic of this head and shoulders formation? I'm not seeing it.

Holy crap getting close to 115.

Good chart. Another way to look at it is in terms of points: If you lose x points, you need to gain x points to get it back.

Most people cannot explain where they get their risk/reward numbers from. "My risk reward is 1:2" = "I'm going long the ES @ 1,200 with a target of 1,210 and a stop loss of 1,995." But they can't tell you why they think they're more likely to hit their profit than their stop loss. Why...

Thanks.

Whoa, I didn't even know TQQQ existed. 4x weighted QQQ!!! I knew about QLD but didn't know there was a 4x. Is there a 4x inverse?

I know that any trading methodology that says "when X happens you're looking for longs" is not going to be any more profitable than random chance in the long run.

You have two red channels in a row in that pic. Were you wrong with those longs?

By not selling. I'm drawn down around $30,000 right now on my SPY position. I'm certainly not going to sell it and take the loss. And if SPY hits 115 I'm going to add more. edit - this advice depends on the instrument being traded.

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