ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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ES is down for the year. Everything the bulls built in 4 months destroyed in one week!!
And it holds true again that retail investors really do buy at the top
And it holds true again that retail investors really do buy at the top
Quote from NoDoji:
For a long time I had no idea why anyone would want to trade ES. Then things changed. I guess this is what is meant by "markets change".
Borrowed Schiz' balls at the end, there
really amazing, Nod,could you explain why you bought in your first trade after the market sell-off?
Thank God I survived yesterday's ultra-black-swam with little losses. I closed the week with a little profit, even though I gave back 90% of my week's profit yesterday.
Now I have no position, and I AM PISSED! Pissed not because I gave back some money yesterday, that's part of the game, but because the things that happened yesterday show that this system we have is not reliable at all.
What happened yesterday? over 280 stocks traded at totally absurd prices, like acn at 1 penny or iShares Russell 1000 Value Index Fund at 8 cents. those are no doubt "erroneous" prices.
I want to see this all VERY well explained and fixed, otherwise I am seriously considering stop trading in this shit altogether. Seriously.
3 theories:
1) Human error
2) computer error
3) terrorism (made on purpose by someone, either to attack the USA or to somehow have a financial benefit)
I want to see this thing very well clarified before I risk another cent in this shit. Please post somewhere in ET if you have news. I won't accept bullshit explanation from the authorities, and you shouldn't either
Now I have no position, and I AM PISSED! Pissed not because I gave back some money yesterday, that's part of the game, but because the things that happened yesterday show that this system we have is not reliable at all.
What happened yesterday? over 280 stocks traded at totally absurd prices, like acn at 1 penny or iShares Russell 1000 Value Index Fund at 8 cents. those are no doubt "erroneous" prices.
I want to see this all VERY well explained and fixed, otherwise I am seriously considering stop trading in this shit altogether. Seriously.
3 theories:
1) Human error
2) computer error
3) terrorism (made on purpose by someone, either to attack the USA or to somehow have a financial benefit)
I want to see this thing very well clarified before I risk another cent in this shit. Please post somewhere in ET if you have news. I won't accept bullshit explanation from the authorities, and you shouldn't either
Yes
My platforms were acting strangely at the open. One was out of sync with the other and I was afraid to trade after yesterday's action caused my DOM to lock up. I decided the open was just too volatile after yesterday and I took the dog to the park. (I gave everyone here immediate notice, so I don't want to hear about how anyone missed a chunk of that almost vertical move down from 1119.75 to 1090.75 after I left, when the 5-min chart offered the ultimate short signal at the close of the 10:10am bar: 3-tick failed breakout through the previous bar's high well below a falling 20 EMA, leaving a red shooting star behind.)
So I returned to see that I missed that incredible move and was, how should I say...pissed.
The hammer off the 1090 level from such a deep lower channel line overshoot was inviting to longs. I figured since I missed the big down move, I'd try for a bounce. Placing a stop at only 1097.75, I went long 1099.50, small size, figuring maybe a 5 pt bounce was in the cards. I liked the overall price action and moved my stop to 1100 and decided to just sit on it a while. Price was back and forth in wider moves than I was used to with ES, so I stepped away from my desk to avoid micromanaging the trade. When I returned 1109 resistance was broke thru and price had overshot the upper channel line, so I took profits, which were significantly more than I expected. There was another 11 pts left in the tank, but I was edgy.
The last push up from where I covered was one of those moves that looks overextended, so I jumped in quickly as an early short figuring I'd scalp a few pts on the exhalation of the move up. However, the 11:20am bar left behind was a decent short confirmation, so I held on and down it went, so I targeted 1103.50 just above the previous pivot low, but I covered when price found quick support off 1105.75. Something about bears and bulls and pigs came to mind.
Took a break, then did some scalping in the range to the short side, hoping to catch another panic move, but everything was shallower by then.
I really have a lot of respect for guys like Schiz who trades back and forth so easily. There was as much to be taken both directions in the later day drifting range.
Quote from NoDoji:
For a long time I had no idea why anyone would want to trade ES. Then things changed. I guess this is what is meant by "markets change".
Borrowed Schiz' balls at the end, there
NoDoji Officially the only profitable -and- transparent trader of ET.
Good job girl, never thought I would seen it happen in this site.
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