ES Journal Archive (2009 - 2010)

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Quote from fseitun:

Hard to argue with that. The old TA patterns have almost completely disappeared. This is a BOT market, very tough for traditional discretionary traders.
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This is very very true. You are talking to someone who went on a 22 day consecutive multi-thousand dollar a day streak in 2008. Including making 48K one week and 29K the next.

I have automated my best trading strategies and am starting to look for fulltime work (Thankfully I have business degree from UCLA and 7 years corporate experience as my exit plan). The easy money is gone. I beleive that easy money comes along once every five years or so and lasts for about a year. It happened with the tech bubble in 2000 and the crash of 2008.

What fooled me was that I was making money going both long and short every day... so I said to myself I can always make money trading since I don't rely on bull or bear markets. The truth is we were in a volatility bubble. That bubble has burst long ago. Don't believe what the VIX is telling you... there is no fear in this market.

My goal now is to allocate as much capital from now until then and plunge when the next opportunity comes along.

I'll see you all in a 2015.
 
with bear and lehman in the picture we had whales batttling whales, now with them gone, all the whales and the fed are working together for the survial of U S and its ability to survive on borrowed foreign money, it' s a new game,but still a game
 
Quote from flipflopper:

This is very very true. You are talking to someone who went on a 22 day consecutive multi-thousand dollar a day streak in 2008. Including making 48K one week and 29K the next.

I have automated my best trading strategies and am starting to look for fulltime work (Thankfully I have business degree from UCLA and 7 years corporate experience as my exit plan). The easy money is gone. I beleive that easy money comes along once every five years or so and lasts for about a year. It happened with the tech bubble in 2000 and the crash of 2008.

What fooled me was that I was making money going both long and short every day... so I said to myself I can always make money trading since I don't rely on bull or bear markets. The truth is we were in a volatility bubble. That bubble has burst long ago. Don't believe what the VIX is telling you... there is no fear in this market.

My goal now is to allocate as much capital from now until then and plunge when the next opportunity comes along.

I'll see you all in a 2015.
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Easy money in the stock market may be gone but the bull in commodities is far from over.
 
Quote from flipflopper:The easy money is gone. I beleive that easy money comes along once every five years or so and lasts for about a year
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Yes, but this "1 good year in 5" happens in other markets as well. So another approach is to look at markets that is doing very well at this time. Dollar Index, EUR, Crude, Copper, Silver - all are having phenomenal days. Probably easier to transition to another market than to transition out of trading and being back in 4 years, no?
 
Quote from fseitun:

Hard to argue with that. The old TA patterns have almost completely disappeared. This is a BOT market, very tough for traditional discretionary traders.
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Interesting comment ....

I am inclined to believe that "discretionary trading" is simply following the price from level to level with no static beliefs in play that will impede the smooth flow of trading each price wave.

What is now missing from the price action is a reasonably reliable bias as we have enjoyed in the past, and this will cause no end of grief to traders who relied too heavily upon it.
 
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