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Good pointsBL20; but if it takes 3 years, or much more / bear market to come back, we maybe should aim for more .The US stock market has been uptrending for 200+ years, but that is not a prediction.
ES Journal - 2017/2018
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Good pointsBL20; but if it takes 3 years, or much more / bear market to come back, we maybe should aim for more .The US stock market has been uptrending for 200+ years, but that is not a prediction.
Boring. Probably gonna just drift up slowly or flatline. Think i'm gonna call it a day and wait for the ramp up next week.
Have a good weekend
Have a good weekend
Drawdown becomes a function of time and degree. How many days has a 60 point move from the most recent high taken to revert back to the peak. So if you have a 60 point move to the downside. What is MFA and MAE after entry 60 points from the most recent peak.
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Sounds like we agree on the importance of trends;
20 year SPY is still uptrending, OK,some may want better than a 7 year drawdown. But drawdowns may not be losses. Like Comagnum said ,most investors make money in the US stock market....................................................................................................
Yesterday price slipped towards the close. Let's see what happens today.
Just like the price action, overall most are doing well, I've taken some shorts. Some worked out some didn't. Generally I like to short or mean revert trade at high end of ATR.
In a upward trending market, if you don't scalp out a short, it eventually turns into a loser. The price action is caught in narrow bands most of the RTH. There is a huge timing event approaching. I'd rather see guys making money only taking longs in this atmosphere than loose trying to get a precise short in place.
"The price action is scalping out its own shorts, and trending it's longs."
That's actually quite impressive and a testament to the traders here! You say it like it's a bad thing.
On most trading forums, everyone is getting killed trying to short this thing.
Most people in this thread understand that we are in a mad bull trend and the only way is up, and that 'long only' trading makes sense and that shorting isn't too smart (unless you're trying to scalp for 2 ticks or something)
If we know that we'll likely be 50 handles or so higher within a few weeks (or possibly much much sooner) then buy 'n' rot makes sense
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Surely you don't believe corrections in either direction average "2 ticks". A day trader shouldn't care whether it's a bull market or not, each day has its own personality and segments of direction. In a bullish environment, there are likely to be more long signals but it would be costly for a professional day trader to not take the shorts. I get "bull" and "bear" markets on the majority of days regardless of what the daily is doing. Additionally, in any environment often the best trading days are corrective to larger trends.
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