ES Journal - 2021/2022

[SunTrader]

Think we might just trade mostly sideways rest of the day. Maybe maybe not another burst down late in the day.

 

[wiesman02]

Hey all, I’ll be back to posting a bit on these boards more next week. Gonna come back

First losing day in a while:

View attachment 294972

In the past, my desire to avoid losing days have made me lose even more. I avoided doubling down today as the volatility was a tad too much, so that's progress in the discipline department. I'm taking a breather here and letting the big players fight this one out. Maybe I'll take another trade near the close if the dust should settle and the PA is a bit clearer.

Shorting this right here is risky, IMO, although it does look weak.

3 % down / 4K buyers trying to put in a bottom here.

Out of curiosity, what was the reason for the loss ? Stops too tight ? PA was fairly fluidly down, especially when moving to a 15 min chart

 

[virtusa]

Trading this year has been all about, just when you think it can't go any lower it does, just when you think it can't go any higher it does as well. Don't fight it.

The trend always goes further than the market thinks. In both directions.
It has always been like that, not just this year.

 

[SunTrader]

The trend always goes further than the market thinks. In both directions.
It has always been like that, not just this year.

Should put it, that this scenario is happening a lot more often, than in years past.

You may disagree. Fine.

 

[Laissez Faire]

Out of curiosity, what was the reason for the loss ? Stops too tight ? PA was fairly fluidly down, especially when moving to a 15 min chart

Too tight for sure and frequently taking a few B/E + 1 tick exits as I suppose I lacked conviction to hold. Resulting in getting back in at consecutively worse prices.

 

[wiesman02]

Too tight for sure and frequently taking a few B/E + 1 tick exits as I suppose I lacked conviction to hold. Resulting in getting back in at consecutively worse prices.

been there. It’s very frustrating. Good job not digging too bad of a hole

 

[Master Pu]

So was it an overreaction or realisation that inflation is not just based on higher energy prices as stated numerous times in the MSM?

 

[mervyn]

from here to fed hike on the 22nd, better stay alert.

 

[SunTrader]

Got a dual short signal but 3 minutes apart.

 

[formikatrading]

While still operating under the bullish end of year thesis and still fine on my position (for now, LOL!), I definitely could have been more pro-active in the short-term based on conditions at close yesterday. @SunTrader mentioned the VIX (which I had observed as well) -- and I had some other indicators which were giving at least a caution yesterday. And I noticed a number of folks switching to long or buying into the bullish scenario. That combined with ST "stretched" conditions was something that probably should have led me to at least take some $ off the table.