no bidder, machine buying program.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
no bidder, machine buying program.
Well, we are kinda reversing after hitting the lower trendline I've alluded to above. But I ain't so sure the trend itself will reverse. What say you, about what's in store for the next few days?
I'm the worst trader, so who cares what I say, but damn those MES runners would have been great!
Also, all hindsight of course, but since the drop before the open was epic, the ranges today could be expected to be large. So in some way, using 1/2 an ES, like 5 MES, and doubling the stop size would have maybe prevents all those tight stops from being hit.
I know it's all hindsight, but when I look at my trades and I add up what was the biggest problem, I see a theme. It's as simple as bad entry, wrong direction, didn't hold long enough, etc. The biggest and easiest solution is always pointing to holding the winners longer. Even bad entries don't have to be fixed because that's what the stop is for. The simplest fix after journaling 20-50 trades is always wait for bigger profits if I can scale out.
Back in 2008, immediately after Lehman Brothers went bust, S&P sank something like 70 points in an instant. 70 points back then would be (I would think) equivalent to double that today.
Another instance was on the day of Flash Crash. Damn, I still have shudders just thinking about it. THAT WAS A NIGHTMARE. Luckily, I didn't have any position at the time.
I should add though, that I myself have been incapable of doing this very same thing I'm suggesting to you. I am the weakest link!
Thank you for asking. I have no idea as of now, to be honest. I like using statistics and what I call my predictive model, but I think we're off script now, so I'm not putting too much stock into it as the n is likely too small.
If I were to guess, I'm thinking we'll see an Outside Week - barring any news that would reverse this. That means sub 3886,75 by Friday.
But this is at best an educated guess just looking at some pictures and keeping some basic data in mind.
Daily Chart
We have an FBO of that channel and last week's range - well below last week's RTH mid-point by today's close.
If this gets loose would anyone be shocked to see 3794,25 by end of week?
Need to clear that 3900 zone first, of course, but I'm also remembering that this is September still.
The only thing I feel certain about is that we'll see some juicy moves.
Not sure if that will even hold by tomorrow.
Was just thinking the action today reminds me of the super-chop a couple months ago before the face ripping rally. Think I advanced my timing just a little too far today. 
