ES Journal Archive (2006 - 2008)

volatilitypimp · Jun 29, 2006

Quote from Tanstaafl:

Where do you put your stop loss?

mental stop 126600. getting close.

w/ the fed imminent, a stop loss will do me no good, imo.

4re · Jun 29, 2006

Quote from volatilitypimp:

mental stop 126600. getting close.

w/ the fed imminent, a stop loss will do me no good, imo.

That thing is going to be moving very fast you might want to put in a S/L or be prepared to do a quick market order. Good luck.

volatilitypimp · Jun 29, 2006

short another 5 @ 126500.

s/l @1268

romik · Jun 29, 2006

Quote from volatilitypimp:

short another 5 @ 126500.

s/l @1268

man, i hope luck is on your side, why are you short? you can answer afterwards.

PitchBlack · Jun 29, 2006

shake out of the shorters.

Purely on the charts we are long for the last 90 minutes. I don't understand why people went short in these last 90 minutes.

volatilitypimp · Jun 29, 2006

OMFG.:eek: :eek:

out at 127150. that hurt. Directional trading is for suckers. I was up 7500 deltas on the day too.

I was right, the s/l didn't get hit at 1268.

4re · Jun 29, 2006

Quote from volatilitypimp:

OMFG.:eek: :eek:

out at 127150. that hurt. Directional trading is for suckers. I was up 7500 deltas on the day too.

I was right, the s/l didn't get hit at 1268.

Boy howdy that was fast wasn't it. I got on the wrong side of one of those once and swore it would never happen again.

GL,
4re

PitchBlack · Jun 29, 2006

Quote from volatilitypimp:

OMFG.:eek: :eek:

out at 127150. that hurt. Directional trading is for suckers. I was up 7500 deltas on the day too.

I was right, the s/l didn't get hit at 1268.

Yeah, you're right.
Sorry, my remark was idiot. Probably because i'm a newbie.

I must say your trade impressed me.

saliva · Jun 29, 2006

What's the rationale behind this rally? Not that it's important, but the Fed isn't going to close shop anytime soon as indicated in the minute and today's rate hike has already been discounted. So my 2-cents is that this is purely a speculative bounce to resurrect the deat cat from its grave, as evidenced by the price retracement from its daily high.

romik · Jun 29, 2006

Quote from saliva:

What's the rationale behind this rally? Not that it's important, but the Fed isn't going to close shop anytime soon as indicated in the minute and today's rate hike has already been discounted. So my 2-cents is that this is purely a speculative bounce to resurrect the deat cat from its grave, as evidenced by the price retracement from its daily high.

Inexperienced/amateur traders believe the market performs in a rational manner and that bad news=lower price. IMO that's an easy trap to fall into especially on FOMC days. Why go short if the anticipated .25 raise has been priced in already and that's what actually happened.