ES Journal - 2019/2020

[hafez50]

You see the movement in that DOM, this must be mostly algo-driven, otherwise I don't know how anyone can cope with this speed... Other than some crazy elite traders with brass balls, of course

What no ones talking about is all the people on the wrong side of these trades. They were trying to bottom fish and got destroyed. Whats not said enough is only 3-5% of people who try to trade full time will make it 2 yrs. Looking at all the boards on Elite trader you'd think 99% of traders make it

 

[speedo]

Wire me the money, I'll put on the trades for you

Now seriously, that sucks, I'm really surprised IB didn't raise margins like crazy for oil, now you trade 3, almost 4 CL for one ES. Me no comprende.

Edit: Although I guess one possibility is that NYMEX and IB think that increasing margins right now would only wreck even more havoc: imagine the long-term longs trying to hold on for life and suddenly being told to cough it up...

AMP raised today

 

[speedo]

Damn this ES is trading nice technically this week

 

[speedo]

resistance off the 61.8 and upper TL. You can complain about the algos or observe what they are doing.

 

[Picaso]

What no ones talking about is all the people on the wrong side of these trades. They were trying to bottom fish and got destroyed. Whats not said enough is only 3-5% of people who try to trade full time will make it 2 yrs. Looking at all the boards on Elite trader you'd think 99% of traders make it

I agree on everything you just said, I'm just commenting on the speed of all the orders when it's moving faster than you can click on. With such a thin volume per tick (often 1-5 contracts or so), there should be gaps and momentarily larger spreads (like you see sometimes at night), but nope...

 

[syswizard]

WTI May crude contract closes not far from June.....within $2.
Impressive recovery for May.

 

[Cessna06P]

A lot of oil/shale producers and its ancillary distributors will go bust. Frankly, that ain't so good for the stock market. I expect the S&P to sell off big in the coming days.

This is just the beginning. We are not going back to "normal" anytime soon. Suicides are going to outnumber COVID 19 casualties in the fallout of all of this.

 

[Picaso]

A lot of oil/shale producers and its ancillary distributors will go bust. Frankly, that ain't so good for the stock market. I expect the S&P to sell off big in the coming days.

What I wonder is what effect will oil at this price have on electric cars and renewable energies, suddenly they must look much more expensive.

 

[speedo]

 

[theapprentice]

guess the close? I'm told 2748.