ES Journal - 2019/2020

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syswizard said:
it quickly became the poster child for how and why not to day trade.
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Well, when you have sentiment swings created by someone's comments and bots buying or selling on single words uttered by someone who is somebody, day trading becomes 50% luck in being in the right direction at the time the comment or word is spoken. The big bucks (100 to 300 pts per trade) are made on trading the fundamentals... a lot less work and less frustration also.
 
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In terms of the ES macro skew post FOMC, where are you guys leaning?

If we look at what the Fed delivered, I guess it underwhelmed (the market got 25 bps, but certainly a lot less going forward).
When I look at how the market trades out from lower prices (on the event and also in overnight trade - Europeans), it feels like they still want longs (see image below).
Buying aggressively at discount, really aggressively.

We have more volatility, that's a given.

ES post FOMC Sep18.png
 
kellys said:
Buying aggressively at discount,
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That was my plan y'day. Had an order for 5 contracts at 2,972, t/p 3,011, I missed the buy by 5pts so no trade on the S&P y'day, see what it gives us today... the 2,972 buy is still working (might lower the buy to 2,762 if I see a vertical on the 10 min chart)
 
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FXtrader8911 said:
Well, when you have sentiment swings created by someone's comments and bots buying or selling on single words uttered by someone who is somebody, day trading becomes 50% luck in being in the right direction at the time the comment or word is spoken.
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With good money management, you can still show some decent profits at 50% winners. However, when you are at 20%, forget it....nothing is going to help you. Also, I shouldn't diss the trading service based on only 1 day of results....everyone has their bad days.
 
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