Midnight rally

Laissez Faire said:
I imagine you must been equally confident prior to your 200 + point drawdown the last time you bought the high. :)

I do agree with the strong upside bias, though. If you were to trade only one direction in US stock indexes, up it is. But it won't be entirely risk-free - at least if you're trading leveraged instruments.
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Let's just be honest though. He didn't sit through a 200+ point drawdown. If he did it was in sim.

Just buying the dip these guys keep preaching (at least from a futures standpoint) is some good advice to blow an account on margin at some point.

The Rickshaw cult is alive and well on these boards.
 
Relentless said:
Let's just be honest though. He didn't sit through a 200+ point drawdown. If he did it was in sim.

Just buying the dip these guys keep preaching (at least from a futures standpoint) is some good advice to blow an account on margin at some point.

The Rickshaw cult is alive and well on these boards.
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Depends on leverage being used, IMO.

I know plenty of buy and hold people who sat through the covid drop last March.
 
Relentless said:
On an instrument like the ES?

Must have some deep pockets.
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No. Not anyone I personally know. Just long term holders of stocks with no/low leverage.

Equally, if you trade only 1 MES, a 200 point drawdown ain't more than a thousand bucks. That's only 10 % down on a 10K account.

There's another member here who've also held micro positions through deep drawdowns.

Not how I would do things, but each to their own in trading.
 
S2007S said:
Tomorrow more record highs!!!!!!


Dow 34,000

Nasdaq 14,000

Keep the free unlimited gains coming.
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If you really believe that, you will pull a Rickshaw. I do something like that all the time, because I know my own thesis. The drawdowns suck. I do it with real monies. Don't believe me? See my journal.

I'm long again at the NQ ATH, 13802 on Sep.

Otherwise, you, and all the other blowhards here like Rickshaw can STFU.

Buying the cash close and selling the cash open is a not a thing. This is why Rickshaw blew his account out last year, and in Q4 2018, and in this past quarter.
 
S2007S said:
Tomorrow more record highs!!!!!!


Dow 34,000

Nasdaq 14,000

Keep the free unlimited gains coming.
More...


tomorrow NO record highs!!!!!!


Powell has spoken.

copper, hangseng, India nifty going down.

NQ tends not to move during the Asian session.
It might move (down) during the coming European session.

meanwhile, continue to hope. continue to pray ... for more highs.
 
By the way, @Rickshaw Man Thanks for the brilliant idea of just going long willy-nilly at the cash close. It's been working SO FUCKING WELL for the last two months! Including tonight! I'm down only 40 points or so on the NQ.

There is no risk. And when I close my position tomorrow morning 100 points down, I can make it back the next night, correct?

Oh. But tomorrow night, we can have the same problem. 100 points down in the overnight session, which is regained by the day session.

Then, on day three, it is the same thing. Another 100 points down, from cash close to cash open.

And then for the next THREE WEEKS we get a 10-20 point rise in the overnight session each day. GREAT WAY TO MAKE MONEY, RICKSHAWMAN!
 
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