Kudos to MMs

nitro · Sep 8, 2009

Quote from dont:

this thing is starting to irritate me, it should be a lot lower.

Two comments:

1) While believe me I understand your frustration, it is important imo not to make a mountain out of a hill. One of the things that is most detrimental to traders psychology is just this. It is a very dangerous state of mind to be in as a trader. Markets do all sorts of things. Take it in stride. Five years ago, a keyboard of mine would have lost its life if this happened to me. I realize today what an idiot I was, and worse, the negative feedback it creates.

2) That it is up today is not surprising. It is that it was up last week that surprised me. I am leaving the trade on only because I feel that at this point there is decent resistance above and there is a good chance we meander around here. The point is that if I were flat, I would be looking to get short, and while this area is not perfect [1035 ish would be] it is not horrible.

dont · Sep 8, 2009

Quote from nitro:

Two comments:

1) While believe me I understand your frustration, it is important imo not to make a mountain out of a hill. One of the things that is most detrimental to traders psychology is just this. It is a very dangerous state of mind to be in as a trader. Markets do all sorts of things. Take it in stride. Five years ago, a keyboard of mine would have lost its life if this happened to me. I realize today what an idiot I was, and worse, the negative feedback it creates.

2) That it is up today is not surprising. It is that it was up last week that surprised me. I am leaving the trade on only because I feel that at this point there is decent resistance above and there is a good chance we meander around here. The point is that if I were flat, I would be looking to get short, and while this area is not perfect [1035 ish would be] it is not horrible.

Point taken. You are quite right.

nitro · Sep 9, 2009

"FV" ~ 900

arbs-r-us · Sep 9, 2009

Quote from nitro:

"FV" ~ 900

"FV" ~ 1160. Exactly the same above the market as you are below the market.

I hope you are blasting S puts on the way up to cover some of your sorus....

nitro · Sep 9, 2009

Out S ES 1031.50, -1.50.

Horrible.

riskfreetrading · Sep 9, 2009

Quote from nitro:

Out S ES 1031.50, -1.50.

Horrible.

R U out at the top? Today's is the top Nitro (Check my views on thread I started). Do not let them you put salt on what appears as an injury.

nitro · Sep 10, 2009

"FV" ~895.

nitro · Sep 10, 2009

Quote from arbs-r-us:

"FV" ~ 1160. Exactly the same above the market as you are below the market....

I doubt it strongly.

nitro · Sep 10, 2009

Quote from riskfreetrading:

R U out at the top? Today's is the top Nitro (Check my views on thread I started). Do not let them you put salt on what appears as an injury.

Patience.

kinggyppo · Sep 10, 2009

gap at 1080 should be watched closely, this is where the real breakdown/meltdown occurred, we probably overshot to the downside. I never thought we would go below 750, the bear market started at 1390 for me on spx. This fair value thing is sort of meaningless if you are underwater 100 spx points. Trade what you see, if you are going for the big swing make sure you position size unless your goal in life is to be a walmart greeter.