These are extraordinary times, so a talented trader has the opportunity to earn excessive profits, but you need to understand that what you are trying to do is completely unsustainable. Even with a minimum of compounding that equates to about 1000% per year. If you are new then a goal of minimizing losses and maximizing winners with an intelligent, non emotional methodology is better than an arbitrary dollar amount. It is easy to not get overly emotional when 10k is on the line, but if you ever get to 100k or even one million you will not be able to trade the same way you are trading now, so you want to make sure whatever methodology you use is scalable to a level where you can make a living from it.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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update
I agree with everything else you said except the part left above. The past five weeks or so have rather sucked for day trading. Hence the total absence of gaudy blotters in P&L 2009 thread.
Extraordinary times were second half of 2008: these are the lean times by comparison. But we'll see intraday range expansion and volatility return soon
Congrats to those who played; I sat on my hands all day (actually busy with day job).
I placed a long order on that last burst, but missed the train, and was biased towards short for the close, but they ripped the damn close so many times lately that I didn't want to test it.
One of Volente's rule is that the high/low of the week is done on Wednesday of an OE right? If it happens I expect a V pattern: drop and rip.
Tempted to go long on the NQ now; will dip if the fut will show some -20/-30.
I placed a long order on that last burst, but missed the train, and was biased towards short for the close, but they ripped the damn close so many times lately that I didn't want to test it.
One of Volente's rule is that the high/low of the week is done on Wednesday of an OE right? If it happens I expect a V pattern: drop and rip.
Tempted to go long on the NQ now; will dip if the fut will show some -20/-30.
Well then we agree on everything because I was referring to these last few years in general.Quote from austinp:
I agree with everything else you said except the part left above. The past five weeks or so have rather sucked for day trading. Hence the total absence of gaudy blotters in P&L 2009 thread.
Extraordinary times were second half of 2008: these are the lean times by comparison. But we'll see intraday range expansion and volatility return soon
For those of us making a living with a 10 VIX where 30 was basically unheard of these are still great times, not as great as a few months ago but still great. As I posted previously, just because the ES is not moving as much intraday, there are other futures contracts that are. Over that last two decades I have learned to be flexible, so sometimes I daytrade, sometimes I swing/position trade and I donât just do one instrument. Add in a myriad of option strategies and that gives you a lot of flexibility.
My question to you would be, what will you do if/when we go back to a sub 15 VIX?
fellas, this week is option expiration, so they will hit it anywhere they can. I expected this down move as posted many times, but have no bias for next week. If we continue to go down next week, then you can be pretty confident the trend is reversing. Things do look pretty rosy for now though, broke the key support at 920 today, maybe a minor bump at 900 as a natural support #, otherwise next level is 880-5
For the shorts, i did take some pts off the table, i certainly did.
ps dont believe in those govt conspiracy theory/ppt.
For the shorts, i did take some pts off the table, i certainly did.
ps dont believe in those govt conspiracy theory/ppt.
Watch for the bounce the bulls are going to attempt at 905.... fair warning
Still agreeing Proximo.
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