@destriero : you need to put me off ignore if you want me to read or reply to your posts where you quote me.
ES Journal - 2017/2018
- Thread starter Buy1Sell2
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Does he post in real time? I can assure you he uses technical analysis, but probably not the way everone else does it. If someone say they don't use classical TA or that they use 'models' or whatever, it's still TA.
Day trading is a matter of technicals. There is no other way. Charts. Statistics. Rules. Tables. Patterns. Only your imagination or creativity sets your limits.
I know from the past that B1S2 have taken many short positions in this journal, so it's only now recently I've recognized him as a perma-bull. I found it a little odd actually, since I've known him to play both sides. Any comments, @Buy1Sell2 ?
Speaking of perma - anyone know what happened to ammo? He was a big part of this journal for years and consistently bearish if I recall correctly. At least he always played the short side. This was when I was just getting into day trading and I think the ES was sub 1000 and many people thought we wouldn't recover after the financial crisis and how QE would destroy the market.
Not sure what happened to Ammo. He was insightful trader.
Just an observation, B1S2 has already stated he is trading to the long side until price hits 2530. That is his model. Its the same as yesterday and will be the same tomorrow. Up day, down day, sideways day, its the same for him until we hit 2530.
Some people can't seem to deal with his line in the sand approach creating a long only bias for him or the fact that he is willing to have a trade go against him 400pts. But some people might not be able to hang on to a 1000 point winner either.
BTW, since October 3rd there have been 29 down days and 21 up days in the S&P and many of those down days have fat tails that if a buy order had been placed anywhere in the lower 20 percentile would have been quite profitable.
Some people can't seem to deal with his line in the sand approach creating a long only bias for him or the fact that he is willing to have a trade go against him 400pts. But some people might not be able to hang on to a 1000 point winner either.
BTW, since October 3rd there have been 29 down days and 21 up days in the S&P and many of those down days have fat tails that if a buy order had been placed anywhere in the lower 20 percentile would have been quite profitable.
I don’t think anyone is saying his approach is wrong. It’s the fact that it is not for day traders and also consists of extremely wide P&L swings. If one can ignore their NAV from day to day, all the more power to them.
Let's be clear. Quarterly futures are nowhere near optimum for long-term bias-based positions. Not not from a tax standpoint, not from a drawdown and/or other trade metrics standpoint, and certainly not from an opportunistic standpoint. Looking in reverse, on the profit side, when was the last time ES moved 1000 points linearly, not to be confused with travel, in a single quarter?
As for his current trade... today is 12/15/18, quarterly rollover of ES began 12/13... as of today, B1S2 is sitting on ROUGHLY 15,000 USD loss per contract held. There is a maximum of 4 trading days before the position MUST be closed, and the tax consequences, gain or loss, MUST be harvested. The fact this is end-of-year is incidental... run of the mill quarterly rollover.
To add insult, B1S2's arrogant "my way or it's wrong" attitude about everything trading causes a knowledgeable trader to view B1S2 belief that he has been VERY successful as hooey. Staying power is not and does not equate to (monetary)success. It's the Dunning-Kruger Effect.
Happy Holidays
Obviously it hasn't stopped me from replying.
Those are the terms. I've posted my runs this week and you're demanding the run from the 7th (+0.13% on the day). Happy to oblige as soon as you post your run from Thursday or Friday... you've never posted a run. Polenta simply chose the bottom print to go long at 2624, 20 minutes after it hit the tape. You're both frauds.
I've got an arb going OTB on 12/21. I'll wager any amount that you like that they PNL will beat whatever you earn for the week. I'll even let you login to see it; provided there is money on the line.
You can't win this. I produce PNL and you demand more... yet you have failed to produce one yourself. Why so shy, Bro?
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No not really. Part of PRM is keeping 20 percent or less of TLNW is trading accounts.
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