ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Gap filled on ES/SPX here.
Had the right idea on my initial short after I reversed, but got whipsawed.
I'm taking an early weekend. I figure there will be better opportunities next week than trying to engage with this right now.
September so far is holding true to its promise. I'm very wary of making any medium-term predictions, but if we follow historical patterns there's more downside in store from here for the rest of the month. I figure minimum 5350 on SPX - possibly more.
Had the right idea on my initial short after I reversed, but got whipsawed.
I'm taking an early weekend. I figure there will be better opportunities next week than trying to engage with this right now.
September so far is holding true to its promise. I'm very wary of making any medium-term predictions, but if we follow historical patterns there's more downside in store from here for the rest of the month. I figure minimum 5350 on SPX - possibly more.
I feel like unless I capture the exact point of any reversal, its impossible for me to get back into the trend without getting whipsawed out, and that goes for either direction these days.
If I try and go short now, I bet the market goes full V on me.
I trade first. Once I'm done, I'll post. 100% agree that letting anyone know your position can adversely affect your management of the position. I answer only to myself. ET is the water cooler. It is for breaktime only for me.
well, long trade is always safe, provided you can afford the maximum drawdown 20% like in 2022.
lol, combined positions here is not even a drop in the bucket, average es volume is 1.2 million per day.
I've pretty much only been going long really and mostly getting stopped out every time. Caught almost all the bottoms of the big Vs we keep seeing several times, built 20% fat across the accounts after going negative shortly, but now back to break even for the year.
It's not a good spot to go short now since we're so oversold short term, IMHO. That's why I closed down my trading computer in order to avoid doing anything stupid.
I figure September still have some downside. If it gets really ugly, we take out the August lows. But there may be some nasty rips on the way down.
Generally, I find it's always harder to navigate a correction/bear market than a bull market.