ES Journal - 2021/2022

[Laissez Faire]

Agreed, best not to hold into it. tight stops will be hit. If range is expected to be large (as it is), market orders should expect large slippage, would think a few points would be typical (no specific stats though). IMO 30 point stop would not seem large enough for this particular announcement.

Yeah. I was wondering if anyone would step forth and share if they actually had a position into that report.

I wouldn't be surprised if the slippage was 10 points or way higher even. But I do think that report may have been an outlier. Possible the FOMC this Wednesday have the potential to be similar, although I don't think it will be as severe. Anyone holding a position into that unless well in the money is gambling, though.

Oh ok, missed that.

No idea. I never trade news and always use limits. Believe it or not I often (1 out 4, 1 out 5 trades) experience positive slippage. Of course if I used limits and traded news I would experience hell slippage.

Wise man.

Is that stop limit orders? Never used those. I use regular stop market orders and stop price = fill price most of the time with my cute little contract. I've traded 5 contracts in the past and as much as 10 contracts and pretty much experienced the same during RTH.

I do remember price spiking to my limit sell order once and coming back down unfilled.

 

[SunTrader]

....
Wise man.

Is that stop limit orders? Never used those. I use regular stop market orders and stop price = fill price most of the time with my cute little contract. I've traded 5 contracts in the past and as much as 10 contracts and pretty much experienced the same during RTH.

I do remember price spiking to my limit sell order once and coming back down unfilled.

No just plain resting limit orders that I stage waiting to spring into action when the moment is right.

 

[SunTrader]

10yr yield pushing towards 5.600% currently 5.584%

 

[Wide Tailz]

+100 tqqq on support, looking for bounce

*edit- out for loss, pattern failed

 

[Laissez Faire]

Damn. Don't feel too crazy about shorting this right now for some reason. Stopped out on a long on the Open and am now flat and watching.

If we can get a PB I might take a low risk short entry if offered, but was primarily leaning long for today's Open, so I missed this drop.

Certainly not trying to pick a bottom either.

If I follow up on yesterday's and the weekend's thesis, we did trade back into 3900, but that level was rejected. So, from a big picture view we should be going lower now.

 

[Laissez Faire]

Sell stop below market with a tight stop, but primarily looking for a long now.

 

[mervyn]

Ford dropped 5%

Yes, although it may have sounded rhetorical. I was wondering how much slippage those with a stop just below market (longs) got on last Tuesdays CPI drop. That drop was brutal and with not much volume at all. So, I imagine anyone stopping out on market orders got considerable slippage.

While ultra-liquid most of the time, clearly there are times where you get slippage even on one contract trading ES.

About 1 ticks even yesterday. Had a limit but I guess I was very late in the queue so only got partly filled on the limit and the rest got filled at 1 tick below.

 

[Laissez Faire]

Won't be greedy on a long either. More than happy if I get 3900 as an initial target.

Working the mid-point now. Could still head lower. Careful...

 

[Laissez Faire]

Looks like a test of last week's low, doesn't it? 3850. Might not get it easily though. Market's still finding a bid down here...

 

[SunTrader]

Looks like a test of last week's low, doesn't it? 3850. Might not get it easily though. Market's still finding a bid down here...

Think it is only a matter of time. Sweden raised the ante going a full 100 basis points before The Fed and others. 10yr rocketing. Crude, forward looking, selling off.... again.