Nothing should be a surprise in this market.
Today was a consolidation day closing down 11.25 points from the Open.
From what I can see currently, I would guess 5K by end of this week. Possibly already tomorrow.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Nothing should be a surprise in this market.
Today was a consolidation day closing down 11.25 points from the Open.
From what I can see currently, I would guess 5K by end of this week. Possibly already tomorrow.
He pretty much says the same thing every time. But the market still clings on to every word coming out of his mouth.
he is playing politics, will cut rates this year regardless. debt service is projected to exceed defense spending.
I don’t think any moves up will have much juice. Maybe to 5140ish area then back down.
I’d like to see 5000 by end of week. But maybe I just really wanna see the bulls bleed lol
edit: thought I hit the submit button earlier on this but I did not.
Tom Lee said 7% drawdown then you can buy the dip.
As you might know, I'm agnostic when it comes to direction. I just felt the need to vent today because, well, my trading was crappy.
As you might know, I'm agnostic when it comes to direction. I just felt the need to vent today because, well, my trading was crappy.
I was re-reading Street Smarts by Linda Raschke and this touched a nerve
"Your biggest enemy in trading is going to be a directional bias, an opinion about market direction ... whether yours, a broker's or a friend's. Shut it out! Learn to concentrate on the "right-hand side" of the chart-in other words, on the pattern at hand."
OK, so the bad news is that - totally ignoring my previous post - I came to the market today with a strong bullish bias...
The good news is that since everything was screaming "short" (EMAs on 3 timeframes, downward momentum picking up, almost all stocks on my watchlist in the red), I stopped myself from trying to catch all these falling knives - a very expensive hobby of mine in the past.
So totally flat for the day (in hindsight, silly me). I'm going to take a break, pull my hair for a bit and clear my head.
- I came to the market today with a strong bullish bias...The good news is that since everything was screaming "short" (EMAs on 3 timeframes, downward momentum picking up, almost all stocks on my watchlist in the red), I stopped myself from trying to catch all these falling knives - a very expensive hobby of mine in the past.
So totally flat for the day (in hindsight, silly me). I'm going to take a break, pull my hair for a bit and clear my head.
ss 5080
stop at 94
stop at 94
Well, totally opposite of you, I came in with short bias, and market did end up doing that. But I barely able to make money despite all my trades are from the short side because market ran my stops to the tick. Days like this can happen and it's the kind of shit traders have to live with everyday. Time to quit while I am ahead.OK, so the bad news is that - totally ignoring my previous post
The good news is that since everything was screaming "short" (EMAs on 3 timeframes, downward momentum picking up, almost all stocks on my watchlist in the red), I stopped myself from trying to catch all these falling knives - a very expensive hobby of mine in the past.
So totally flat for the day (in hindsight, silly me). I'm going to take a break, pull my hair for a bit and clear my head.