Chronicles of the NQ

We are in a very resilient market supported by short covering as well as investors that didn't believe in this rally and are now chasing it. Low yields doesn't help the bear case either.

Several months back George Soros made headlines with his sp500 short. The market has a message for him: We are coming for your stop.
 
I found the answer on Google...

They are puts and about 3.4% of his portfolio although I don't know the value of his portfolio. :D
 
wrbtrader said:
I found the answer on Google...

They are puts and about 3.4% of his portfolio although I don't know the value of his portfolio. :D
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Yeah I'm sure he is short through options to hedge his portfolio. But the fact that a well known figure like him announces that he is shorting the sp500 was like putting a target on his back.

2015 was essentially a massive top and I think we melt up to clear stops above 2134 in the weeks to come as earnings come in better than expected.
 
Financials are strong and will likely outperform for the next several weeks. I think it continues to push sp500 to new highs and grab those buy stops above 2134 cash. Meanwhile tech is weak this morning due to Netflix and IBM, dragging down NQ. The disparity between NQ and ES today makes it tough to trade and kept me on the sidelines mostly. It will be interesting to see how this all plays out.
 

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Another loose change day. Someday I'll get pass my minimum wage status
I was gunning for 4560 on that last trade but ran out of time.
 

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Instynct said:
Another loose change day. Someday I'll get pass my minimum wage status
I was gunning for 4560 on that last trade but ran out of time.
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It was sort of funny now, but not at time, I never earned min wage, it seemed I lost long time in futures and like a switch flipped I was doing well. Some stay with breakeven long time, but I never did.
 
Handle123 said:
It was sort of funny now, but not at time, I never earned min wage, it seemed I lost long time in futures and like a switch flipped I was doing well. Some stay with breakeven long time, but I never did.
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What do you think attributed to that switch flipping for you?
 
Learned how to program and back tested more than a year, went out at the time first buying all the daily, weekly data for Commodities I could find and then tick data for S&Ps and other markets. It dawned to me I was risking on short term movements and to really know what was doing, I started with sample size of 300, eventually 3,000 and now 10,000 signals. More data I back tested, the more I entrusted the systems/rules. Also using time stops and eventually using Breakeven plus one tick made huge differences, instead of having a little loser of fees, I cover the fees and make money.

I knew charting well, but I didn't know risk well.
 
Handle123 said:
Learned how to program and back tested more than a year, went out at the time first buying all the daily, weekly data for Commodities I could find and then tick data for S&Ps and other markets. It dawned to me I was risking on short term movements and to really know what was doing, I started with sample size of 300, eventually 3,000 and now 10,000 signals. More data I back tested, the more I entrusted the systems/rules. Also using time stops and eventually using Breakeven plus one tick made huge differences, instead of having a little loser of fees, I cover the fees and make money.

I knew charting well, but I didn't know risk well.
More...
Cool thanks for sharing. I have also read from others that extensive back testing was key.

Interesting point about time stops. In similar fashion I will exit some trades if it takes too long, win or lose.
 
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