CL Redux

Quote from JoshDance:



=> I feel like it's almost as if I should just exit quickly if it doesn't go my way, but when I do that it seems to test near my stop and go my way.
=> If I put my stop 2 to 3 ticks below the low, it seems to get me to the tick almost, and then go my way.
=> If I put it well below the low, it will come get me, and then continue farther.

What to do? Arg.
Is this a case of: stick to one strategy, stop whining, and re-enter at an appropriate time? :D [/B]
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This is all in your head, and is based on your observations/experience/memory of the last few trades. The market doesn't care about your position and just goes where it wants to go.

Cut your losses (fairly) quickly, allow some wiggle room. If stopped out, go back in the trade if it goes back in the same direction. You may be whipped out many times but one big winner can pay for it all. Of course, it's hard to keep with a winner, especially if it keeps retracing, but that's why trading is difficult.
 
Quote from Visaria:

The market doesn't care about your position and just goes where it wants to go.
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I absolutely agree with your advice V--my action is based on how I did the last few trades. Regarding your above statement, however, doesn't it stand to reason that the market as a whole knows where stops will be logically placed, and go after those? We see stop runs all the time, and for no reason other than to test for supply or demand and then move in the current direction. In the case I posted it's not that it seems, but generally speaking, don't you think the market shakes people out, specifically targeting stops?

btw, ES vol already 1.5M ... could be another 6M vol day.
 
We're moving with it, but not as in sync--anytime ES buys, we're buying strong. And anytime ES sells, we're selling only marginally.

I wish the buyers would just save me and the shorts a lot of trouble (and save themselves the money) and just get out of the way so we can get on with it.
 
I will short .42, looking to break .35, and looking to break .16 down to 82.50

We are heavily net long in this range at this point, lots of trapped traders. Their stops are probably around 83.00 If we break, nice fall probably.
 
Quote from JoshDance:

I will short .42, looking to break .35, and looking to break .16 down to 82.50

We are heavily net long in this range at this point, lots of trapped traders. Their stops are probably around 83.00 If we break, nice fall probably.
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Out .41, no capitulation yet. Will try again below .25
 
Quote from Blubaru_555:

We're not moving with ES today, what's going on? I'm holding short waiting for this to bottom out but we're not really budging. [/QUOTE one possibility is large houses holding it up to sell into ,buy 1 sell 2
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Hey Guys :)

Well it sure is volatile again. Tight range with many retraces. Should have been in and out scalping all the way. Waited for a break and got out about 14 ticks = $280 too early, but it retraces so much. So you don't know. And I see it had one more pop while I was posting. It's cool. Got 72 ticks altogether.
 

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