end of day swing trading(ES)

Many of you already know this, but ES is a much better trading vehicle than SPY.

Not only simple tax reporting(just marked to market one line reporting), but tax rate is much lower.

60% long term 40% short term.

Up to 100K-110K(not sure about exact number) total yearly income, you pay zero, 0% for long term capital gain tax.
 
** POSITION : No Change **

2 ES long from 2084, 2126 / 100K

Unrealized P/L = +$3000/100K (+3.0%)
Realized P/L = 0
 
** POSITION UPDATE **
sold one ES @ 2100
still long 1 ES @ 2105 / 100K

Unrealized P/L = -$250/100K
Realized P/L = -$250/100K

That's a crazy overnight move. Had to trim position.
 
** POSITION UPDATE **
sold one ES @ 2111
POSITTION : flat.

Unrealized P/L = 0
Realized P/L = 0

I need to reevaluate. might go short at the close.
if market rallies from here, I would be f*cking pissed. but nothing I can do about it.
I can not read the market confidently after this overnight price move.
 
I got trumped!
That was huuuge, probably biggest reversal since flash crash.

Price range of this ES move was 2160 - 2028.50 = 131.50 = $6500 / ES !!!
100K does not seem that conservative anymore for 2 ES contracts.
 
Will this uptrend continue? I think yes.
Will I reenter long position? probably not.

I already had near perfect entry. it's gone now. Chasing trend at this higher price is stressful.

Will wait for next set up. maybe in december.
 
eyedy said:
Will this uptrend continue? I think yes.
Will I reenter long position? probably not.

I already had near perfect entry. it's gone now. Chasing trend at this higher price is stressful.

Will wait for next set up. maybe in december.
More...

Its absolutely insane out there. Our investment club stopped trading last Friday because of this unpredictability.
 
wow, this is probably the biggest NQ/YM divergence I've ever seen.
more than 4% since election day.
YM is up huge and NQ is down a lot.

Big tech investors are scared.
 
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