wow look at ES go damn it looked heavy just a second ago..I guess that short move was more cut and harvest
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Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
yea I was pulling the trigger on oil etf this morning (I was sold on the higher oil story) then it starting breaking a little and I realized that the long oil story was just more crowd/harvest and I backed away
after many many lessons I hesitate hard on my first morning impulse buy and then fade it cuz its usually a follow the crowd move and I rather be on the other side of the crowd everytime
I bought SUNE at 9.70 early this morning, stopped out at like 9.4 when it took out the lows, i know the feeling, now i could see energy names like that closing the day flat, and keep gearing and geraring higher and higher, until they inevitably hit the shorts who keep getting bigger and bigger.
Yeah exactly, more than anything ive just been trying to focus on reacting, i know that should be the mentality in general, but what i mean is that when you see prices hovering around a support/resistance point just react, and trade it in the way that it makes the first move, knowing that there is going to be alot of bag holders driving price action either way.
alot of people are settling back into the long and buy the dip since 9/29. So as it tops up here and crowd is setting long/strong I am looking to fade that mindset..timing is very hard..it might go to 2010 before it fades
wow look at ES go damn it looked heavy just a second ago..I guess that short move was more cut and harvest
This is precisely why im a terrible ES trader, i could still get out here for a huge profit, but i could just as easily seeing this thing being a long here, after putting that bottom in place....... left myself a small position which im willing to hold for a few days, but this market is probably going to screw all the shorts now.
all my logic says this market is shit and fundamentals /global is shit and the crowd is long for a while now...but market can be illogical longer than I am solvent
(Then again, I hate shorting this stuff when it's already come off the highs)
One thing ive been noticing more and more about my own trading lately, its alot more profitable to take the trade off its lows/highs than it is to anticipate those lows/highs, market changes way to fast lately, id rather take the small trade with the bigger stop out once it puts in a direction, than anticipate it with size and get smoked on all the headfakes.
One thing ive been noticing more and more about my own trading lately, its alot more profitable to take the trade off its lows/highs than it is to anticipate those lows/highs, market changes way to fast lately, id rather take the small trade with the bigger stop out once it puts in a direction, than anticipate it with size and get smoked on all the headfakes.
Agree completely...the worst trades I make are usually after the first hour or two (when I start to look at the daily profile and assume a move will follow thru lower)...
I dont have an algo box setup but i noticed that after I have done a few morning trades it helps to step back and do some reading and the algo box would be nice to come back to instead of staring at ticks those hours..not a full blow one but just some automated stuff to turn on after a few hours
lol, look at crude...algo's running this thing ragged.
lol, look at crude...algo's running this thing ragged.
crude is highly tradable..nice volatility and holds ranges nicely US production proly has a floor that they will hold up at 45-46 so your downside is limited