ES Journal - 2019/2020

syswizard · Nov 25, 2019

wave said:
...Be prepared to take small losses. Avoid the common thought that to take a small loss will reflect poorly on your IQ.

There are a few on this thread who have taken fairly major losses trying to short this market.

wave · Nov 25, 2019

Short against 3153, target 3090

Rickshaw Man · Nov 25, 2019

vanzandt said:
That's perhaps the greatest performance of one of the greatest songs by one of the greatest bands of all time.
That being said.... caveat emptor.
De gustibus non est disputandum....
Which makes it jmho.

Edit... Oops... I take that back. Wrong video. This one is the best. Splitting hairs of course.

Skip to 6:45 Mr Vanzandt

vanzandt · Nov 25, 2019

Rickshaw Man said:
Skip to 6:45 Mr Vanzandt

Ronnie, Donnie, and Johnny. Well aware.

FXtrader8911 · Nov 25, 2019

syswizard said:
There are a few on this thread who have taken fairly major losses trying to short this market.

According to Conrad Leslie then these are the people that can console themselves for having a higher IQ.

Overnight · Nov 25, 2019

syswizard said:
There are a few on this thread who have taken fairly major losses trying to short this market.

I took major losses longing this market. So what is the point? The formulae was easy. Go long risk free, reap the gains. BUT...AHAH! It drops 10% a couple times in a quarter, well, so much for that. So maybe the shorters were trying to do the same thing?

FXtrader8911 · Nov 26, 2019

Overnight said:
Go long risk free, reap the gains

There is something in that... 100 years of history will tell you that US markets will always go higher (eventually) so if you buy on the way down and hold then you can't go wrong. However, if you bought at the high, it might take some time to recover, but still, it will recover.

schizo · Nov 26, 2019

syswizard said:
There are a few on this thread who have taken fairly major losses trying to short this market.

Me, being one of them. :banghead:

But it wasn't a "major" loss. Only about 7K. I'll get it back sooner than later.

But one important lesson I've learned is that I need to stick to what I know best. Swing trading, or god-forbid, long-term position trading is not my mojo. It has always been daytrading. That's what I excel at and that's what I need to concentrate all my attention on. Wish everyone happy trading going forward, be it bull market or bear market.

speedo · Nov 26, 2019

themickey · Nov 26, 2019

Strange day, Global Dow up quite strong as is Silver and oil, still another hour to go, but not often see everything up simultaneously.
Strong Global Dow has me thinking more upside yet but if it is a mkt top stm, this could just be a kind of chop signal.
I'm fence sitting here right now, Thanksgiving week could be skewing things.