ES Journal - 2023/2024

[Laissez Faire]

Yeah, but how often do we see the market consolidate just after a day of selloff?

Can't argue with the NFP being the kingpin, but based on the jobless claims reported this morning, I don't expect a huge change from the consensus.

BTW if they really wanted to sell this market down further, they could have. There was enough momentum to do so and yet it completely fizzled out. Don'y ask me what that means.

What's going, man? I feel the roles have switched here with you being bullish and me being bearish.

As for your question, I can't answer it off memory, but pretty sure it's not uncommon with some consolidation after a bigger move before the next bigger move (up or down) out of that.

You shouldn't do anything on my say so is all I know.

Let's get something straight - I ask the questions, you answer them. You teach. I learn.

Got it? (see, that's a question)

In all seriousness, thank you for answering my question.

LOL. Pretty sure you had a $15K day on NQ a while back while I think I was chopped up that day and generally you seem to be doing very well. I'm sure I have loads to learn.

 

[Laissez Faire]

Longed 71.50. 5 MES. Baby size. Stop at 66.

Still feeling fairly bearish, but in the case we rally, it should a be a good average long to start building a bigger position. Will kill it pre-release if I'm not stopped by then or close to the market.

 

[Laissez Faire]

Today could potentially be a tricky day to play. Especially if we open with a larger gap down.

 

[Picaso]

What's going, man? I feel the roles have switched here with you being bullish and me being bearish.

Schizo is neither bull nor bear, he's a dolphin (Flipper)

 

[c1rcle]

Looks like we are going to completely close the gap at this rate

 

[Picaso]

Quite a bit of volatility

Edit: for a very slight deviation from expectations

 

[Laissez Faire]

Longed 71.50. 5 MES. Baby size. Stop at 66.

Still feeling fairly bearish, but in the case we rally, it should a be a good average long to start building a bigger position. Will kill it pre-release if I'm not stopped by then or close to the market.

Added 5 MES after this, so the average is 75. Forgot to post it.

I was contemplating hard to hold or not through NFP, but I calculated the worst case scenario for 50 point slippage with such a small size and decided to take my chances.

Locked in 10 points here. Will see where we're at on the Open. I figure there's a good chance this still can sell off again on the Open.

Best case scenario (for me), we get a trend day up. Not so sure about that today, though.

 

[Laissez Faire]

Part of the reason why I'm not a big fan of posting trades is I feel like I have to defend it. Follow it up with updates. And so on. It's a drag...

 

[theapprentice]

great long LF. My hunch was that it was a good trade and I was tempted to join you, but ended up sitting it out.

 

[Laissez Faire]

great long LF. My hunch was that it was a good trade and I was tempted to join you, but ended up sitting it out.

A calculated gamble. Maybe I got lucky. I wouldn't have done the same if my position was in the middle of a range and close to market at that point. And certainly not on big size.

Worst case scenario I'd lose $3K I figure and that would suck hard, but not be the end of the world.