Sell ES 931 Objective 780

I know intraday it always seems like the market is about to collapse on itself every time the futures start to tank -- but take a step back, look at the daily SPY chart, imagine it was just some dumb tech or growth stock. Does it really look like a topping out formation to you? Feels more like a multi-day breakout could occur any day now.

Anyways, now the market can tank. :)
 
Quote from TheBestGuruEver:

first big bet in 3 months

this is called "gambling" and not trading. The market is not predictable more than a few days out.

I'll give many more details if this trade works. If not, then i FAIL and i'll go away.

One trade working or failing is completely meaningless, whether you win or lose. If you lose, you start another alias and do it again and if it hits, you crow??? Again, completely and totally meaningless.

Now do a couple of hundred trades, and you have some statistics possibly backing you up.
 
it's a huge loss for one day.

stop is still there.

it's a small percentage, but losing ten thousand+ in one day isn't good on the ego.

ah, if the stop gets taken out i'll look to see what went wrong.

currently 947.

-17 points, 10 contracts.
 
Quote from TheBestGuruEver:

it's a huge loss for one day.

stop is still there.

it's a small percentage, but losing ten thousand+ in one day isn't good on the ego.

ah, if the stop gets taken out i'll look to see what went wrong.

currently 947.

-17 points, 10 contracts.
More...

I learned quickly that the ego and trading are mutually exclusive.
 
Quote from PaulRon:

The OP said his stop was 960 so exactly how is he "smashed into oblivion"?
More...

Very sorry, Captain Literal. Will make sure every one of my (and yours) statements from this point on are 100% accurate with no room for fun or misinterpretation. Sound like a plan, Ronny?
 
Quote from Ivanovich:

Very sorry, Captain Literal. Will make sure every one of my (and yours) statements from this point on are 100% accurate with no room for fun or misinterpretation. Sound like a plan, Ronny?
More...

I don't see the need to belittle me or the OP, but go ahead if you feel the need to.
 
Quote from TheBestGuruEver:

it's a huge loss for one day.

stop is still there.

it's a small percentage, but losing ten thousand+ in one day isn't good on the ego.

ah, if the stop gets taken out i'll look to see what went wrong.

currently 947.

-17 points, 10 contracts.
More...
You realize that now that the indexes are hitting highs for 09 a whole bunch of people are going to be piling on the "recovery trade". You short is about a year too late. My guess is stocks end the year flat. You might end up making some money on this trade but I think 780 is too optimistic.

Also look at a 3 month ES chart. Calling the reversal going against the trend has been the ruin of many traders. You better hope 950 turns into resistance and not support.
 
You must log in or register to reply here.
Back
Top