Not a fan of scaling. It chokes off profits as it did here for you.
The S&P has topped
- Thread starter volente_00
- Start date
You are right, i have looked at my own numbers and scaling in and out of positions costs me alot of money, good trades generally dont tend to put much pressure on you where as bad trades do, but the thing is i win on 90% of my trades, then i take a bath once in a while, the only way i can convince myself to hold on too winner, and not cut losers to quickly is by scaling and telling myself im willing to add, and taking profits on some when its there.
The reason i took 2/3rds off at 2356.5 was cause it was still premarket, that rolll towards 2353.75 which was my entry off the open would have had my balls in a vice if i didnt take some off and wasnt willing to give the trade room, I know my own personality, and i know i most likely would have scratched it at that point if i wasnt up a bunch already cause i took some profits.
The reason i took 2/3rds off at 2356.5 was cause it was still premarket, that rolll towards 2353.75 which was my entry off the open would have had my balls in a vice if i didnt take some off and wasnt willing to give the trade room, I know my own personality, and i know i most likely would have scratched it at that point if i wasnt up a bunch already cause i took some profits.
Agreed! ID your risk, pick your target, hold for target. If you don't have a clear enough idea of where the market is trying to go then zoom out a notch.
Ask yourself, if things really are so bullish, then why is the VX curve continuing to change it's curvature from something resembling contango to potential backwardation in the future?
The VX JK17 spread has been pushing up the front relentlessly since 2017/03/15 and this doesn't jive with a real "buy all the equities" type move to me:
What does an actual coke snorting bull party look like? This face ripper after Brexit:
If you think this is wrong and that the curve is actually going to resemble contango in the future then I'd probably go *short* KMN or KMNQ.
(edit: short not long)
The VX JK17 spread has been pushing up the front relentlessly since 2017/03/15 and this doesn't jive with a real "buy all the equities" type move to me:
What does an actual coke snorting bull party look like? This face ripper after Brexit:
If you think this is wrong and that the curve is actually going to resemble contango in the future then I'd probably go *short* KMN or KMNQ.
(edit: short not long)
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For the sake of following up the trade call, this trade of yours has been stopped out, correct? You do already have an amazing entry at your 2400 top, and an amazing exit at 2319, but I just want to make sure keep track of things properly. Will you continue posting if you take another position?
Yes I was stopped out
Yes ES hit my 2340.5 target
Yes the S&P remains topped
Yes I will continue to post some of my ES trades and analysis just as I have done for the past 11 years on here
Always bet against republicans when it comes to markets and economy
Liberals may suck but neocons suck harder when it comes to economic expansion
This slow creep down makes me think the S&P has not topped.
Not replacing Obamacare certainly spooked the market but now investors appear confident in lawmakers finding common ground.
Not replacing Obamacare certainly spooked the market but now investors appear confident in lawmakers finding common ground.
I'll add that a little pullback is very common near earnings. It's definitely a buying opportunity.