nice going! Imagine if you were trading 10c's - boom! however, consider todays action as a gift from the market gods. In a way it screws up the markets because there is no longer a nice orderly reversal happening - now we will chop, chop instead
Shortie Got His Crash!!
- Thread starter pspr
- Start date
nice going! Imagine if you were trading 10c's - boom! however, consider todays action as a gift from the market gods. In a way it screws up the markets because there is no longer a nice orderly reversal happening - now we will chop, chop instead
The thing that I am really worried about guys is that I think there will be a correction the next few days if this indeed was an error. I had some piss poor stocks that I dumped last week that cranked today due to this error. Since its not a real solid gain, technically should drop just as quick as it went up right?
At this point I have a backup account, a backup PC, a secondary internet provider, and UPS's on everything. I also place stops on all my trades the moment they're filled, and quite often I bracket a target too. In the time it would've taken me to switch to anything different, ES had bounced huge already and no way was I about to chase an entry 30 pts or more from where I got excited about it.
actually i am kinda chatty today - agree that this f's up a nice orderly market trend reversal - but ive been shorting for weeks now - eh
Quote from pspr:
If he stuck to his convictions and didn't grab profits he probably has more money than Warren Buffet now!
I've never seen my IB quotes fly around like today. You can't trust what their printing.
the reality is that i suck!
unfortunately, i was way too early shorting the crazy Mar-Apr upmove. i also overleveraged like crazy way to early. by the time the market finally saw its top my account was a total wreck. i still stayed short and managed to recover some of the losses during the last two weeks. today i had several Buy limit orders that flattened me out ~ SPY 112-113. i actually was on the road during the crash, i wish i could have witnessed it in real time!
actually, today after i saw nitro's warning about likely1150 breach, i moved my last buy-to-cover orders much lower and went on the road. 2 hours later: boom! easy money!
kept taking small chunks on the way down but it is setup for scalping. The first few mins of the bounce cost me via short squeeze so I turned it off and went long for the move into the regular session close which prob did better than the freaky selloff. every day is a new adventure - always tweaking