ES Journal - 2023/2024

[Laissez Faire]

Tempted, too, but I'm waiting. Could get a better price. Could miss it, too.

 

[theapprentice]

my nq long from yesterday getting back down to my entry. Think i'm just gonna hold it for now

 

[theapprentice]

tempted L ym here. nice dip. News out in a min though..?...

worth a shot

 

[Laissez Faire]

PB not yet over, IMO. Waiting to see if we can get 50 or even 40. But, I won't be shorting it from here as I would think it's only a PB.

 

[Laissez Faire]

Trying the long again here at 62. 3 point stop. Limit sell at 75.

 

[theapprentice]

worth a shot
View attachment 343297

 

[flash crash]

If I'm long, and three five minute bars in a row print the same high, I close the trade for as close to breakeven as I can and I wait for the next opportunity. Long at 62 and out at 62. I'll wait for stocks to open before trying again.

 

[SammyJ]

Some people just don't get it. I keep reading the same dumb comments on repeat (not in this thread) and they've been going on ever since the market broke out last fall:

"Yeah, I'm bullish, but we need a retrace at least."

"This market is a ponzi. Crash coming any day now."

"This should retrace here." (market rallies)

"FED this and FED that."

"This is WAY overextended."

"The US economy is broken."

"Retail long is trapped here, this is a great short." (heard yesterday and the market rallied hard shortly after)

And so on.

Sorry, buddy, but the market doesn't give a shit about you and your opinions about this or that or how price should behave according to your flawed views. The market's going to where it's going to go. And historically, that's actually up in July most of the time.

Trading technically with no macro view really solves most of these problems.

By the time the market actually sells off (and it will at some point), these guys are no doubt broke multiple times over.

This is correct . I Use this analogy . If a nuke goes off and we start crashing would you trade the mkt long ? 100% of the answers are no. That the wrong answer . The 10 million scalpers out there don’t care if the world ends in a month . All they care about is at that exact place and time can i buy this and make some quick money . Same theory at a company looking or maybe filing bankruptcy . Hertz and American Airlines come to mind . Even though they might file Bk when the stock falls 90-95% fast it 100% always bounces 100-300% plus .

 

[theapprentice]

worth a shot
View attachment 343297

out here for +60 points
hope for a little dip and do it again!

 

[Laissez Faire]

LFG, bulls! I'm moving my stop to B/E at 62 as it's uncertain to me if we'll see a deeper pullback first. Best if we don't.

Looking for a re-entry long if stopped either in the same area or a bit lower.

Anyone feeling greedy today? I feel I should be happy with 75. I may be wrong and we can rip above last week's high. Seems less likely, though.