Crash Monday? SVB contagion, VIX spike

[1eyejackal]

I managed a couple key trades last week and did well, but since I was on travel and will be on travel again until 4-16 can't take advantage of all the moves.

Starting last Tuesday, the 50sma slope was still positive and flattening. the NQ's did the Down, Up, Down 3x and into Wed, 50sma slope went negative, (barely) ( point A on 60min chart) and if anyone here were to follow what I wrote, would have rode NQ's short for 160-200pts using 5 min (area B) for exit trigger. Anyway, was an easy, no sweat trade!

The action early Thursday should have everyone biased long, or at the very least not biased short coming into weekend.

Jobs report on Friday, negative reaction, indices couldn't even touch the 50sma on both ES and NQ and anyone initiated long within 5 points with 12pt stop made out well. Those who were long should have put stops in around the 50sma which didn't touch and ended still long and up for the day.

Anyway, I'm looking into this below and wondering if anyone in here know anything about this?
https://www.worldcupchampionships.com/world-cup-trading-championship-standings

I'm thinking of entering my trading into the Global Cup since it will start up in June and gives me time to setup the account. But, it seems like I have to open an account with one of the brokers below? Can anyone share experiences? I haven't had time to do dd on any of them yet so any input will be appreciated.

TIA

 

[hilmy83]

I managed a couple key trades last week and did well, but since I was on travel and will be on travel again until 4-16 can't take advantage of all the moves.

Starting last Tuesday, the 50sma slope was still positive and flattening. the NQ's did the Down, Up, Down 3x and into Wed, 50sma slope went negative, (barely) ( point A on 60min chart) and if anyone here were to follow what I wrote, would have rode NQ's short for 160-200pts using 5 min (area B) for exit trigger. Anyway, was an easy, no sweat trade!

The action early Thursday should have everyone biased long, or at the very least not biased short coming into weekend.

Jobs report on Friday, negative reaction, indices couldn't even touch the 50sma on both ES and NQ and anyone initiated long within 5 points with 12pt stop made out well. Those who were long should have put stops in around the 50sma which didn't touch and ended still long and up for the day.

Anyway, I'm looking into this below and wondering if anyone in here know anything about this?
https://www.worldcupchampionships.com/world-cup-trading-championship-standings

I'm thinking of entering my trading into the Global Cup since it will start up in June and gives me time to setup the account. But, it seems like I have to open an account with one of the brokers below? Can anyone share experiences? I haven't had time to do dd on any of them yet so any input will be appreciated.

TIA

Join this competition. It's not broker dependant.

https://financial-competitions.com/

 

[1eyejackal]

Join this competition. It's not broker dependant.

https://financial-competitions.com/

They haven't updated the standings since end of Feb so no idea where performances are now, but I would be starting at zero. However, looking at the results; to be top 10 for the non pro futures class, only had to return 6.4%? That can't be right?

Anyway, I'm forming another LLC (to include my current LLC as the managing member and a few other RevocTrusts) to take this futures trading to the next step. Not yet decided how much funds I will start with for this venture, but I might be inclined to start a journal with at least weekly reports to include some key trade data.

 

[1eyejackal]

Ok, I am back in the saddle and this may be my last post to this thread as I think this thread is about ran its course.

So, for full disclosure, giving an update. I have been on constant travel last couple of weeks and was on "vacation" last week in Galveston Island. Tried to make some trades on Friday but got whipsawed to kingdom come. I was actually up quite a bit at one point, but internet there is extremely spotty and trying to make trades on a mobile using my stayle is just disaster waiting to happen.

At 1 point, I accidentally bought 3 contracts of the NQ instead of 2 mNQ and 1 NQ due to not paying attention to the symbols on the phone! Did some post analysis today and it looked like the account ran from 80k to 86k back to 77k before I was able to close positions and called it a day. Half the time TOS was just spinning with no/intermittent internet.

This morning, I got whipped around a bit before calling it quits too early for the day, arghh ... otherwise would have rode the short down from NQ12160 (at the time). I came back and put on an NQ as it crossed to the upside so carrying that into the night. Can't win them every day.

Here are the current numbers:

 

[1eyejackal]

With the relatively tight range we have been in for the NQ's while below its 60min 50SMA, I'm actually slightly bullish but not sure what will happen next week, been building options for Monday X.

I've built standard flys via 13100/13150/13180 @ $41/32/16 (4/8/4) = no risk trade.
Will post followup either later tonight or Sunnday eve. Account ~77k as I type.

 

[destriero]

With the relatively tight range we have been in for the NQ's while below its 60min 50SMA, I'm actually slightly bullish but not sure what will happen next week, been building options for Monday X.

I've built standard flys via 13100/13150/13180 @ $41/32/16 (4/8/4) = no risk trade.
Will post followup either later tonight or Sunnday eve. Account ~77k as I type.

You've legged a 7 credit? Nice, it's 11.25 marked.

 

[1eyejackal]

Yea (actually ~$5cr) , took a bit of time/effort to build it and 20/20 look back, not yet sure if it was worth the effort since I could have made just as much trading the NQs within the range. But it's no sleep loss over 3 days so that in itself my wife says is worth it .

 

[Nine_Ender]

Yea (actually ~$5cr) , took a bit of time/effort to build it and 20/20 look back, not yet sure if it was worth the effort since I could have made just as much trading the NQs within the range. But it's no sleep loss over 3 days so that in itself my wife says is worth it .

Let's look at what occurred since Calhoun posted this thread :

"Crash Monday " - SPX has risen from 3861.73 to 4137.07
"VIX Spike" - UVXY has dropped from 6.01 to 3.75
"SVB Contagian" : FAZ has dropped from 21.54 to 20.15

 

[destriero]

Yea (actually ~$5cr) , took a bit of time/effort to build it and 20/20 look back, not yet sure if it was worth the effort since I could have made just as much trading the NQs within the range. But it's no sleep loss over 3 days so that in itself my wife says is worth it .

Yeah, for sure. The issue is that it's OTM of course. I did that in TSLA some years back on some serious cash. Owned the 200-wide fly (pre-split) at a nice credit and the thing puked and I earned the credit when I would've earned 4X more covering.

I would put mental stops in spot on it as it's a degen 2-day (trading days) but only if it's at a debit. A credit so just assume you're in the call for free.

 

[SunTrader]

To get back on original topic - clean close below (today, tomato, whenever) 4081.15 and trade lower next day highly likely means bear is back!!!:-