ES Journal Archive (2006 - 2008)

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Quote from princessa:

amen.

i would add that, although we're crashing now, i think it's short-lived and the bull will out eventually. then the average american will cheer, gwac, so all is not lost....

right now, we need to let the bear play out. average joe who believes in buy and hold or simply lets the money manager rule the roost will be okay in the end when the market recovers, which i believe it will sooner rather than later. also, if mutual fund manager bob has even a few brain cells working, he will buy more on these lows and thereby make investor joe some money.

if you look at historical charts, 2000 crash took awhile to recover, but that one was special. 1987 crash only took 18 months. the real risk comes to those who panic out of the market in the midst of the crash and don't get back in or get back in too late. they truly lose. but i don't think most people are in that camp.

lastly, i would say that those of us who are expecting a crash and cheer as the big boyz play out the scenario are only cheering because we are pleased that we read it right. i don't think any of us really want people to get hurt or the economy to go through recession/depression, but if it's going to happen, we want to play it right. recessions are inevitable. as traders, we simply try to capitalize on what's happening, whether it's up or down, bull or bear.
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Very well said. Thanks.
 
Quote from Spooz Top:

it`s called being over analytical...............just trade what you see & listen to your intuition.
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I would usually agree with this 100%.

But, IMO, days like today need creative thinking. Everyone's data looks different to them, and looking at mine it is hard for me to trade what I see. Maybe it is because of my risk controls? As I don't want to sit through 5,6,7+ point spikes to see what i see is right.
 
Spooz, I can very sucesfully trade what I understand but otherwise I will lose money.

And in such volatility I am afraid to trade - I have usually disaster stops only and mental stops - but it is jumping 10 points in second today. Today I need have 150 tick disaster stop? :confused:

For me safer stay aside but it is interesting observing so what I can do except speculating?
 
Quote from RAY:

I would usually agree with this 100%.

But, IMO, days like today need creative thinking. Everyone's data looks different to them, and looking at mine it is hard for me to trade what I see. Maybe it is because of my risk controls? As I don't want to sit through 5,6,7+ point spikes to see what i see is right.
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honestly,then you should shut it down....go out & do something fun & come back on monday.......................if this volitility is outside of your risk parameters then avoid it by all means....especially when nothing makes sense & you just not "seeing or feeling" it.......this is what successful traders do when their edge is stripped & non existent.
 
Quote from Pholeuon:

Spooz, I can very sucesfully trade what I understand but otherwise I will lose money.

And in such volatility I am afraid to trade - I have usually disaster stops only and mental stops - but it is jumping 10 points in second today. Today I need have 150 tick disaster stop? :confused:

For me safer stay aside but it is interesting observing so what I can do except speculating?
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see my above post..............if you "have" to sit thru it & watch it.....turn off your platform so your not tempted & don`t end up in a place you do not want to be..........& paper trade the charts.

i know what the both of you are saying & i`m just trying to save you money.i`ve been there & done that from the school of hard knocks.
 
Well put and I agree.

Quote from princessa:

amen.

i would add that, although we're crashing now, i think it's short-lived and the bull will out eventually. then the average american will cheer, gwac, so all is not lost....

right now, we need to let the bear play out. average joe who believes in buy and hold or simply lets the money manager rule the roost will be okay in the end when the market recovers, which i believe it will sooner rather than later. also, if mutual fund manager bob has even a few brain cells working, he will buy more on these lows and thereby make investor joe some money.

if you look at historical charts, 2000 crash took awhile to recover, but that one was special. 1987 crash only took 18 months. the real risk comes to those who panic out of the market in the midst of the crash and don't get back in or get back in too late. they truly lose. but i don't think most people are in that camp.

lastly, i would say that those of us who are expecting a crash and cheer as the big boyz play out the scenario are only cheering because we are pleased that we read it right. i don't think any of us really want people to get hurt or the economy to go through recession/depression, but if it's going to happen, we want to play it right. recessions are inevitable. as traders, we simply try to capitalize on what's happening, whether it's up or down, bull or bear.
More...
 
Thanks, Spooz.
Like your wrote today it is out of my risk parameters so I am just "paper training" /explanation, many years ago I was really paper and celullose trading it is something quite different like you think here :p /
Btw, except one ocassion I was always on correct side of big move. But in real trading I am 100% sure that I will BEGIN with the giant move against me ....

Quote from Spooz Top:

see my above post..............if you "have" to sit thru it & watch it.....turn off your platform so your not tempted & don`t end up in a place you do not want to be..........& paper trade the charts.

i know what the both of you are saying & i`m just trying to save you money.i`ve been there & done that from the school of hard knocks.
More...
 
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