Let's Take a Test Drive by Pay$ense
- Thread starter paysense
- Start date
Another breakout fails: currently a $175 loss.
I "hedged" with 1ES SHORT and will close it and the other NQ contract as things bounce up and down that may mitigate this loss.
I know, while I babysit this market I need to find other things to do.
pay$
Edit: market thus far holding at the LITS (Line In the Sand).
I "hedged" with 1ES SHORT and will close it and the other NQ contract as things bounce up and down that may mitigate this loss.
I know, while I babysit this market I need to find other things to do.
pay$
Edit: market thus far holding at the LITS (Line In the Sand).
Pulled STOP down to 896 (currently at 895, now 895.50), since I do NOT want to exacerbate the relatively small loss.
If we tank great. If not - oh well.
Well as they say that was that. Keep losses small and occasionally get action like late yesterday.
What does it all add up too? I get the same jazzy feeling from coffee so sitting at a computer is not my bag.
In the end - IF things are optimal - I may add an extra few thousand, but for me the "swing" positions actually nab every point with more than a few contracts.
Now I have other work to do.
Let the market sort itself out.p$
Edit: Wild'n'Crazy action stops me out and then drops 4 points!
If we tank great. If not - oh well.
Well as they say that was that. Keep losses small and occasionally get action like late yesterday.
What does it all add up too? I get the same jazzy feeling from coffee so sitting at a computer is not my bag.
In the end - IF things are optimal - I may add an extra few thousand, but for me the "swing" positions actually nab every point with more than a few contracts.
Now I have other work to do.
Let the market sort itself out.p$
Edit: Wild'n'Crazy action stops me out and then drops 4 points!
Quote from paysense:
FWIW: I have seen Neke's thread and I am very impressed. I hope to be able to contribute as such with a bit more work. For now...this thread is not as exhaustive, but I hope it adds more value than the 90%+ of threads we see posted daily.
This thread is much more exhausting.
Well, that went well.
I got the notion - when things bounced a bit from the daily lows (after that steep descent back to them) to go LONG 1ES (mind you these day-trades are <i>extra</i> ones to my main positions) with a STOP to STO 2NQ about 5 points below the low.
Anyway, it popped a bit and BTC for $100. These days take the money and run, since a $100 gain is MUCH better than a $250 loss. That is a total affect to your account of $350!
Now we get to watch the ES move all the way back to the highs of the day, lol.
In my lower margin account I did the same with TFS and NQ. A bit more: $180.
So what does it all add up to? I don't know. . .<i>maybe</i> 3-out-of-5 winners and an up day +$250?
I got the notion - when things bounced a bit from the daily lows (after that steep descent back to them) to go LONG 1ES (mind you these day-trades are <i>extra</i> ones to my main positions) with a STOP to STO 2NQ about 5 points below the low.
Anyway, it popped a bit and BTC for $100. These days take the money and run, since a $100 gain is MUCH better than a $250 loss. That is a total affect to your account of $350!
Now we get to watch the ES move all the way back to the highs of the day, lol.
In my lower margin account I did the same with TFS and NQ. A bit more: $180.
So what does it all add up to? I don't know. . .<i>maybe</i> 3-out-of-5 winners and an up day +$250?
Is this intra-day, low-volume rally for real?
Only way to find out is place a BTO on a pullback w/ a 1 point STOP.
Entered 892 - which promptly jumped 1 point so moved STOP to 892.25 so I at least close with a gain. . .we shall see.
So much for that, a temporary $75 gain is closed with a $12 gain. So much for the BIG win!
:eek:
Got in again w/ a 1 point STOP. The uptrend was narrowing so what that means is we may get a sharp break either way.
I'm erring on the side of <i>program trading</i> which may be behind some of this action.
So I go to the bathroom and guess what?
The trend aka "program trading" immediately gets the memo and decides to NOT cooperate. Take a look at the index and you will see what happened.
Now I got work to do!
Only way to find out is place a BTO on a pullback w/ a 1 point STOP.
Entered 892 - which promptly jumped 1 point so moved STOP to 892.25 so I at least close with a gain. . .we shall see.
So much for that, a temporary $75 gain is closed with a $12 gain. So much for the BIG win!
:eek:
Got in again w/ a 1 point STOP. The uptrend was narrowing so what that means is we may get a sharp break either way.
I'm erring on the side of <i>program trading</i> which may be behind some of this action.
So I go to the bathroom and guess what?
The trend aka "program trading" immediately gets the memo and decides to NOT cooperate. Take a look at the index and you will see what happened.
Now I got work to do!
Entered LONG 889
STOP 886
. . .and now the moment of <i>truth!</i>
- still no TRUTH.p$
Edit: ES "prints" 2.5 points higher.
Adjusted STOP to at least make a $12 gain.
We shall see what the powers that be decide to, well - be.
Edit: this <i>thing</i> jumps another 2 points. My STOP is now adjusted to at least retain a $50 gain.
. . .
Update: further adjusted STOP to at least retain $100.
. . .
STOP 886
. . .and now the moment of <i>truth!</i>
- still no TRUTH.p$
Edit: ES "prints" 2.5 points higher.
Adjusted STOP to at least make a $12 gain.
We shall see what the powers that be decide to, well - be.
Edit: this <i>thing</i> jumps another 2 points. My STOP is now adjusted to at least retain a $50 gain.
. . .
Update: further adjusted STOP to at least retain $100.
. . .