This Market Sucks!!!

[JSSPMK]

Quote from austinp:



We're due for a big resolution, real soon.

And that resolution will be bearish ImO, "they" are trying to keep EOD trading parties sweet sort of speak by doing what they did yesterday, but there is that monthly chart, which is just plain bearish as far as I am concerned, would be a hard task to negate that. I would have thought that maybe we will have more upside, since yesterday's close I am certainly not banking on downside breakdown come Monday as I did on Thursday evening based on the way 240 looked. Tricky point in time. I don't see any major bull movement until monthly sorts itself out.

 

[Oz435]

Quote from Champion:

Why not instead just follow the upswings (or downswings) as they occur?The upturn in the last hour (YM,Fri) was well signalled (buy). It might have been a smaller up-cycle; it doesn't matter. When you are aboard you stay aboard. You turn around your position (go short) on a reverse signal and get back on board if that reverse signal (sell) is followed a by a new signal (buy).

I wouldn't want to trade like that, but that's me. I've seen YM go up 30 and come down 50 in a blink of an eye. I prefer to get stopped if I'm wrong.

Which led to my original question. Can a vicious move like yesterday blow past a ym stop with 1 or 2 contracts only?

 

[brocklanders]

Quote from Oz435:

I wouldn't want to trade like that, but that's me. I've seen YM go up 30 and come down 50 in a blink of an eye. I prefer to get stopped if I'm wrong.

Which led to my original question. Can a vicious move like yesterday blow past a ym stop with 1 or 2 contracts only?

You would likely get a worse than normal price on your stop fill depending on the order volume coming into the market when your stop threshold was reached. You should still get out of the position if you used a stop order and not a stop limit order. I've been in positions on Globex when moves like this happen and have gotten out but with a few ticks of slippage. I guess it really depends on how good your broker is too. I would rather take the slippage than be stuck in an underwater position at the end of the day that's for sure.

 

[tortoise]

Quote from trader123abc:

It was really clear! We were trending down and then went into consolidation.
Made a false break to the down side
If it could not sell off then the break back above 35.75 was a clear buy!

Did you sell on the break below? If not, how did you knoe to buy on the break above?

 

[Champion]

Quote from Oz435:

I wouldn't want to trade like that, but that's me. I've seen YM go up 30 and come down 50 in a blink of an eye. I prefer to get stopped if I'm wrong.

Which led to my original question. Can a vicious move like yesterday blow past a ym stop with 1 or 2 contracts only?

Sure, do whatever you must do.But fear is a reason not to trade at all. 'Blink of an eye' is an impression, not a fact. The move was not vicious at all; YM is a soft fluffy touchy feely pussycat. Its soft paws are there all the time working away to help you unwind the ball of wool into one long line of net profits going straight into your pocket.

 

[cashmoney69]

Quote from Logged Out:

how does a comment like this warrant 10+ pages

You guys are morons

LOL, I too would like to know what the BIG deal is??.. they act like this is the first time news has affected the markets in such as way. See class, this is why we use stops, and next week, we'll learn colors! .

 

[kidPWRtrader]

Quote from austinp:

<i>"Funny you mention the taking out of the pivot... the experienced guys in the channel today were yelling buy buy buy as soon as we took that out."</i>

They were? It must have been verbal then, because text notes posted imply everyone with no exceptions was either short or confused from 3:30pm onward.

Maybe I glanced at the wrong day's report, but that's how it reads to me.

Bottom line, careers are not made (or broken) on news-blast reversals out of the blue. Sometimes we catch them, sometimes we miss. Just get good at pulling points out of the market more days than not, and keep those other days contained to small losses.

Then let time take over.

2 off the top of my head that I know caught it are top and fish.

Others im sure, just cant remember.

Not a pissing match though. I'm just saying, based on PA, guys were going long around here that I saw.

I went long myself and got scared off cause it was past 3:30 and took my measly 2 points.

 

[1nibbler]

ive been debating asking this question of you for several weeks now mister day. Finally, i've reached the moment in the time where I'm just tipsy enough to waste my time typing it. ( As I'm sure that this is a waste of time, even as I'm doing it.)

Why on earth are you such an angry person?


I simply do not understand how someone like you continues to function in modern society. Perhaps you have your very own comfy unabomber shack somewhere "out there" and don't get enough attention on a face to face basis. That would explain your need to come on here spouting (very creatively written) bile that insures that any and all will do their best to send you down in flames. As I tell my six year old son quite regularly,

No attention is better than negative attention. any day.
Somehow, I know you will patently disagree with that nugget of wisdom. okay, what a buzz kill for me..i'm done now.

 

[smilingsynic]

Quote from regal_2012:

you expect us to believe that?

thats why you have gone through several long posts to explain your loss.

lol

What loss?

My frustration was that I did not get long enough after making a measly five ticks on a short after waiting over two hours.

Simply put, that upmove came totally out of the blue. I was lucky enough to close out my short (I moved the stop down as soon as the new low looked like it was going to be a Wyckoff spring), and to be long something.

I felt like a deer caught in the headlights. I have traded for a long time, and have seen just about everything. That move had me puzzled, and I ended up getting long only a token position.

Do you understand what I and others are saying? Even experienced traders were surprised. No one is perfect, except when they're boasting about their (paper?) profits on ET.

I am taking the opposite position. I am admitting that I could have done better.

 

[dajuicer]

Quote from youngtrader:

Manufactured price action imo to squeeze weak shorts and take advantage of dumb longs who bought in at the close and will buy in monday morning.

Anybody who doesn't think wall street runs this way is sadly mistaken. You don't get filthy rich playing by the rules guys!

Simply somebody was caught on the wrong side and like earlier stated we were holding our ground around 1330 so all it took was a silly rumer (which doesn't mean anything in the long term) to pop us up enough to hit stops enough to close substantially higher.

To whoever the hell did this I admire you and commend you for a job well done.

Who cares??? I went short three times and then took the nice long into the close--what is the big deal??? Is it because some traders are buffin the helmet and don't pay attention or don't even know how to trade??

I'm really curious because as far as Fridays go, this one was a real money maker for me.