ES Journal - 2019/2020

Status
Not open for further replies.
Spooz Top 2 said:
FC/ Frisky Cat & I were speaking via PM last night about this PA... That said, It prompted
me to dig deep for my old journals going back to `97.

October was always the big doom & gloom month of big, parabolic moves in the market....
Something changed in yr 2000.... Going back to my notes .. Jan 14th 2000 Dow prints all time hi @ 11.722... proving to be the swing hi print... Feb 11th 2000 the sell off commenced... Feb 18th 2000 Dow (-295) or 3% in a day.... 20 years to the Day Feb 18th 2020 to which this sell off started.
9 Years later... Feb 24th of 2009 Proved to be the swing lo print on the Indicies that kicked off this 10 + year unprecedented Bull Run!

That said, Feb appears to be the New October as Market Lore goes........

"The stocks change... the suckers change... but the market never changes because
human nature never changes"....
J.L
More...
There are a lot of "10's" on there though. For percent drops at least.

upload_2020-2-28_11-21-59.png
 
NQurious said:
I was recently asked how one should get started trading the emini - should the newb start with mini or micro? I said now that now that you can trade $0 commissions with with limit orders I'd reccomend a newb taking $25K and daytrading a 10 lot of SPY or QQQ at Schwab. Work up to 500 shares, and once you can do that effortlessly and without fear, then you are ready to trade a mini.

Of course, he complained he only had $5K. And you know, that shouldn't be a problem except for the PDT rule.
More...

Notional on 1 MES is equal to 50 SPY. If you can change the recommendation from 10 SPY to 50 SPY, he can get started with a futures account. I personally think $5k account is sufficient to trade 1 MES. That's like asking someone to start with a $50k account and trade 1 ES only. No one really does that, do they?

Incidentally, there's a smaller SPY these days
 
Last edited:
Status
Not open for further replies.
Back
Top