If you mean the exit trades from May 5th and 6th, that was all because of the Trump China twits. Look back a bit on the journal pages, and you'll see how it unfolded, somewhat.
...And They Have a Plan. (Live.)
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If you mean the exit trades from May 5th and 6th, that was all because of the Trump China twits. Look back a bit on the journal pages, and you'll see how it unfolded, somewhat.
No, I am wondering what the market is doing, and try to trade around that with what I have.
Whether it is micro or mini does not matter to me, because they are exactly equal to me. I am not an arbitrager or whatever, I don't use options to do any weird hedging or whathaveyou that could affect my need to choose between the two.
Just in and out. Sometimes, the outs are taking too long. Oi!
Continuing that last journal log post, had just one trade yesterday for 20 points. Nothing today as I didn't feel comfortable with the long action due to being at record highs again (At least on the ES. NQ is lagging now). Too bad I didn't follow my gut at the open. Oh well, better to have missed out on love than to have loved then lost...? Or something. There's always the next trading day. Always look forward, never backward.
As an aside, from all my hesitation at going long at ATH, I should feel more comfortable going short now, one would think. Right? I can't seem to do it though. I'm a bull pussy that got spoilt by 2017.
As an aside, from all my hesitation at going long at ATH, I should feel more comfortable going short now, one would think. Right? I can't seem to do it though. I'm a bull pussy that got spoilt by 2017.
Update since last entry. Nothing exciting, sat on my hands most of week. I hate ATH, and that has kept me back on going long. Bigly, since every time I try to swing long on NQ it corrects 2, 3 10 or 20%...And yer gonna' hate me for my next announcement...
I decided today, because I hate going long at ATH, especially NEW ATH, to go short. My own psychology is getting in my way or my progress. Constant battle. So I went short around 12:15 PM ET, thinking we had hit the peak, Well, we kinda' didn't. It came back down in the after-hours, but not enough.
So here's my current deal.
Not bad, only 10 points away from entry. I'm comfortable with it. I am much more comfortable going short at ATH than going long at ATH right now. How bad can it get for shorts going forward?
Well, I look at it this way. The markets took me for a real ride on those longs before corrections. All things being equal, Trump's tweets could now help the shorts, because this little niggle, this little thorn he stuck into everyone's sides saying how China is not buying our ags?
Mreh. Seems the rate cut is priced in, and is expected. God help the markets if Powell decides to do otherwise, "based on available data."
We little people are truly Forsaken.
I decided today, because I hate going long at ATH, especially NEW ATH, to go short. My own psychology is getting in my way or my progress. Constant battle. So I went short around 12:15 PM ET, thinking we had hit the peak, Well, we kinda' didn't. It came back down in the after-hours, but not enough.
So here's my current deal.
Not bad, only 10 points away from entry. I'm comfortable with it. I am much more comfortable going short at ATH than going long at ATH right now. How bad can it get for shorts going forward?
Well, I look at it this way. The markets took me for a real ride on those longs before corrections. All things being equal, Trump's tweets could now help the shorts, because this little niggle, this little thorn he stuck into everyone's sides saying how China is not buying our ags?
Mreh. Seems the rate cut is priced in, and is expected. God help the markets if Powell decides to do otherwise, "based on available data."
We little people are truly Forsaken.
i never looked at this before. man. you had a good run. but why would you trade off of fake charts and why would you overleverage yourself by getting cute and using spreads to try and mitigate risk? obviously the right choice was to just exit and reenter, but when in a position like I am right now what is easy after the fact is extremely difficult in real life and real time. bummed this happened to you. but it happens every day.
It is not a new journal, it is the only journal I have ever had here on the real money side. I posted a sim journal around here some time ago, but the "plan" journal is my baby. Everything you see here is real money, with real charts. I have expended a lot of effort to show that this is true over the couple years it has been here.
Oh. I was confused on this bit then...
"...but why would you trade off of fake charts and why would you overleverage yourself by getting cute and using spreads to try and mitigate risk?..."
Fake charts? Nah, they are real charts. As for losing 50 grand in oil? No, I MADE 10 grand in CL in Q1 2017 before I took a break and started working NQ. Since Feb 2018, NQ has been a bitch to me (well equities in general), because they now have this habit of correcting at least 10% every 6 months or so. A behavior I was not prepared for, and which I was told was an anomaly. Seems to me it is now a matter of course when we break new highs. Thus my reluctance to go long at ATH now.
Here's continuation from the last entry, on those $2 long trades.
As you can see, I have been playing more shorts, because ATH compels me to do so. A shitty week to be sure, but at least it is a bit of green. #sad.
The GC trade was a knee-jerk trade which I should have stuck with. I was in and out too quick, as I forgot GC's behavior. That God-Damned "Cut your losses short" mantra keeps banging on in my head, and is anathema for a swing trader.