I'm getting whipsawed, and I need advice/opinion

lindq said:
This is a great time to learn how and when to sit on your hands.

(After washing them.)
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I was thinking of that;or trade smaller or stop trading for while, which is what I do after losses. DAL never did take out yesterday's HI, but i'm glad i'm not short on that chart now......................................................................
MSFT had a super strong close/above 200dm/,today, tech sector has been super strong for a long time except MAR. DAL never did take out yesterdays high= but I would rather be long tech ETFs/MSFT than short DAL here.
Looks like QQQ is going to close above 200dma later also.....Strong close; so sounds like your instincts are right, try trading smaller/wider stops.I did look @ SDOW eod, I figured I sold way to soon today,but on shorts= better to soon, than to late.[ I had larger drawdowns on tech ETFs than normal , but i never believed virus HYPE, sure it hurt DAL sector]
 
ironchef said:
May I ask did you beat QQQ?
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I actually haven't check, but based on observation it should be very close.... for diversificationi reasons I also have SPY DIA and XLK, but I also add the individual MAGAs so the overall performance is almost the same as the QQQ but the cost is lower.
 
dozu888 said:
I actually haven't check, but based on observation it should be very close.... for diversificationi reasons I also have SPY DIA and XLK, but I also add the individual MAGAs so the overall performance is almost the same as the QQQ but the cost is lower.
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XLK tends to do a bit better, but sometime QQQ wins the race. DIA tends to underperform except in APR/good dividend...........................................................
 
professional traders or instittuioal and market makers are not trading this market.okay
its too illiquid and volatile to trade,,why you think they halted it.

you don't have trade or buy or sell in this BS 'market.'
 
elitetrader02 said:
professional traders or instittuioal and market makers are not trading this market.okay
its too illiquid and volatile to trade,,why you think they halted it.

you don't have trade or buy or sell in this BS 'market.'
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You really think you know that as a fact? There was over 3 mil volume in ES traded today per contract. Sure, a lot of that was due to roll over but point still stands.
 
ironchef said:
My observations of who are successful on ET is that instead of guessing whether the market is going up or down, just bet one direction:

Perma bulls like @dozu888 said he was printing money betting long QQQ.

Perma bears like @S2007S said he was printing money betting against QQQ.

They are both right, so as a pro you just have to pick one side and stick with it. As an amateur retail I follow the perma bull (since 2010 :cool:)and of course I got crashed the last two weeks. :banghead: Fortunately the year is still young and I may get lucky again.

Good luck.
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bulls make money, bears make money, pigs get slaughtered

it took me 13 years to become a trader.

it is one of the most frustrating and satisfying period of my life.

markets are the toughest teacher because they give the test first and the lesson later
 
I've been trading UAL and MSFT a lot this past week, profitably. My advice? Don't hold overnight; trade short momentum swings; take profit where you can and don't beat yourself up for getting out too early (I got out of a short-term MSFT play with some profit a few minutes before closing today. By closing, it was up tenfold from where I exited. But *shrug* ... it's still a profit).

Or, do the opposite. Take a very long-term view, buy blue chips with little debt on their balance sheets (think AAPL, not BA), and don't look until September.

Or, preserve capital. Sit this out, get back in when it's going back up.
 
zoned_post_meridiem said:
I've been trading UAL and MSFT a lot this past week, profitably. My advice? Don't hold overnight; trade short momentum swings; take profit where you can and don't beat yourself up for getting out too early (I got out of a short-term MSFT play with some profit a few minutes before closing today. By closing, it was up tenfold from where I exited. But *shrug* ... it's still a profit).

Or, do the opposite. Take a very long-term view, buy blue chips with little debt on their balance sheets (think AAPL, not BA), and don't look until September.

Or, preserve capital. Sit this out, get back in when it's going back up.
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Doesn't MSFT follow QQQ right now? Find most stocks are just following the main indexes right now. UAL probably follows SPY but with higher beta.
 
Just a few possible suggestions:

1) Elite performers don't beat themselves up for their mistakes. They reinforce what they did right and just observe what needs work. It took me years to understand this concept. I either win or I learn.

2) What actually is your analysis? What gets you in and out of a trade? From what you said, it seemed a little more like hunches than analysis (I'm only going by what you said).

3) Did you fully understand the current environment? We were in an extreme sell-off but also capable of having a day like today. What adjustments did you make for that environment? Do you love to trade this kind of market because of the potential to make a lot of money quickly or because you really know how to trade this kind of environment?
 
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