ES Journal - 2023/2024

Picaso said:
It sounds like cheating at Solitaire :D

I had a similar view to yours. I really didn't think we were going to drop more than 100 points today. Was it some Fed big shot giving a speech?
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Not sure either, but we're flat-lining here, so the momentum is definitely fading. And we still have over 3 hours to go. Don't look good for the bears.
 
I will remove long bias for the market if this doesn't recover today. The good close yesterday basically failed today and that is not good overall. ---Weekly closing action and pricing is the most important of all.
 
I think we are in the rhythm of "react to news, then deal with the aftermath, then chill until last call, the last 30 minutes of the day". This is chill mode now.

How to trash your PL::D

Trade mode=Reaction mode while market is in chill mode.
Trade mode=chill mode while the market is in Reaction mode.

It is volatile enough right now there will be a lot of false signals in TA and PA.
 
Picaso said:
Stop bragging :D

Just kidding. Why are you on satellite, if I may ask?
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My wife and I are out camping. Picked up a standard Starlink kit for half off before we left.

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Bad_Badness said:
How to trash your PL::D

Trade mode=Reaction mode while market is in chill mode.
Trade mode=chill mode while the market is in Reaction mode.
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A veteran trader told me that the most important skill in trading was being able to identify when the market is ranging and when it's trending.

I'm still not quite there yet, but I think he was totally right.

OK, wait, @Buy1Sell2 is in the house, so that would be number 2 after prudent risk management ;)
 
Buy1Sell2 said:
I will remove long bias for the market if this doesn't recover today. The good close yesterday basically failed today and that is not good overall. ---Weekly closing action and pricing is the most important of all.
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It would need to recover a lot surely?
 
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