A real trader posting real trades to benefit newcomers.

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Since some readers are interested in my draw downs, here it is. This account had a highest watermark of 105k-ish.

Yes, I withdraw when the account hit 115k, I withdraw 15k. I made that amount of withdraw on a monthly basis, but not very consistantly. Had times when I do it twice a month, but very rarely. Had not withdraw yet in October, will see. Thank you for all that showed concerns. I will not answer those who again think this is a paper trading account. Well, learn paper trading if you can/want.
 
Modification of strategy, admitting this is a downtrend confirmed in the mid term, and will start to salvage the losing positions by exiting some at each rebound, and re-establish them at retest of the lows to average down the long position, while at the significant price level to switch another account to short only on some positions.

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WSJ front pages Thursday going to be this market crash and many are going to talk about outflow of money from mutual funds. My plan is to try to clear as many longs as possible at the next retest of CHEN's zone trying to go back up. This better happen earlier counting from now. We are between 5-10% percent drop from the top depending on the sector you observe. Another drop of this much is entering bear territory for RTY, possibly NQ, then ES, then YM. Shorting the tops would probably be the strategy for the foreseeable futures. FULL retest or challenge of the previously made high might need to wait till Xmas or New Year month.
 
yc47ib said:
WSJ front pages Thursday going to be this market crash and many are going to talk about outflow of money from mutual funds. My plan is to try to clear as many longs as possible at the next retest of CHEN's zone trying to go back up. This better happen earlier counting from now. We are between 5-10% percent drop from the top depending on the sector you observe. Another drop of this much is entering bear territory for RTY, possibly NQ, then ES, then YM. Shorting the tops would probably be the strategy for the foreseeable futures. FULL retest or challenge of the previously made high might need to wait till Xmas or New Year month.
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Spooz are nearly 5% off the ATH. I am sure that there are sectors that you can find to make your bullish case, but you shouldn’t be trading index futures. You own a unprofitable restaurant and you’re donating your money to the markets? STOP. Your methodology is fatally flawed.
 
Spooz are down 5%. There was no prewarning price would drop that much.

People either earn tons of money, or lose tons of money.

No matter what strategies we use, we need hard stop, not hope.
 
WOW, the market surely cannot stop the dropping, a lot of margin calls I assume, and is it the beginning of the big turn from bull to bear? Who knows. I do not feel the exuberance yet for this bull market, kind of hesitating to admit it. But tomorrow should tell.
 
destriero said:
Spooz are nearly 5% off the ATH. I am sure that there are sectors that you can find to make your bullish case, but you shouldn’t be trading index futures. You own a unprofitable restaurant and you’re donating your money to the markets? STOP. Your methodology is fatally flawed.
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Thanks for the suggestion. Looking retrospectively, I should have cleared all my longs and go short yesterday, today could be a profitable day. But, who is to say that I do not get out somewhere in the middle of this trending down day and revert to long in the middle to lose all the profit and some.

This is the time to review my initial posts: traders cannot be under-capitalized.
 
I cut loss on my two CL long to preserve capital. In a margin call environment, nothing will be spared since everything need to be sold to accumulate cash to react to margin calls. I just received notice from both IBKR and Capital Gain to increase overnight margin requirement. My accounts, though all deeply underwater, all far from being margin called. But I assume many others are not and they need to sell everything.

A lot of wiped out longs today, I think.
 
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