Notice the ones who are not complaining are trading futures and the ones that have had a tough time are the ones trading stocks. Stocks have been OK if you are in the right ones (I haven't found the right ones either this week). However one goal I reached this week was obtaining my worst fill or lack of fill that I have had since trading NYSE.
this market
- Thread starter chasinfla
- Start date
You know from reading your posts..It seems to me that you never, ever lose any money. I guess you will be in the next Market Wizards book. Looking forward to it!
Keep up the good work.
David
So what happens when things "pickup again"? If stocks actually get volume and follow thru back to the, do you think the futures will trade even better then they have been trading now. I would assume they would pick up hand in hand meaning if you have a good strategy for futures and doing well with them now, then when this institutional money comes back in the market the futures will also be trading better then they are now. Seems to be a good spot for those that have learned now how to trade the futures.
I'm trading emini's and it's been no big party for me at least not this month (down about 2%).
Looks like divergence trades are working right now, but who wants to fade a breakout of this 850-820 trading range since 2/18 with possible UN news at any moment.
I'd like to know how you guys picked up many points from this mornings move up. I shorted after the open when the upside gap had no followthrough. As soon as the down move passed below 828 I moved my stops to breakeven. The bounce off yesterdays low was so quick, I don't know how anyone could've gotten on borad before 832 (and that was only 3 bars from the low...no divergence, just a bounce). How could you have figured this was the big move of the day? I know I missed most of it on the upside. The sideways action since 1100 is just more of the same old slop. I can't wait to see a 50pt one way move.
Looks like divergence trades are working right now, but who wants to fade a breakout of this 850-820 trading range since 2/18 with possible UN news at any moment.
I'd like to know how you guys picked up many points from this mornings move up. I shorted after the open when the upside gap had no followthrough. As soon as the down move passed below 828 I moved my stops to breakeven. The bounce off yesterdays low was so quick, I don't know how anyone could've gotten on borad before 832 (and that was only 3 bars from the low...no divergence, just a bounce). How could you have figured this was the big move of the day? I know I missed most of it on the upside. The sideways action since 1100 is just more of the same old slop. I can't wait to see a 50pt one way move.
You don't. That's the point of rules. Under the rules of my system, the ES would have been bought when the opening range high was taken out by one point, i.e., 834.75. It would then be held until the day's target was approached, at which point one of several exit stragegies would be employed. In this case, since the target was 844, I would have started trailing a tight stop behind each 3m bar once the price got past 840 (I say "would" because I was trading the NQ), particularly since 840 represented resistance from the previous two days.
In any case, the move would have been worth around 5 or 6 ES points for the one trade.
Other systems might have bought as soon as the gap was filled, but that's not a high enough probability trade for me.
--Db
Nihaba,
I've noticed that you're always the first to comment when someone posts about a difficult trading day. It's usually something like, "what's so difficult about this week -- I'm doing great!"
Give it a rest pal. This happens to have been a stellar week for me, however I feel no need to tell others how easy it's been. In fact, this is a difficult time for most traders.
A little humility would do you well! What's next?? Will you be asking us to bring you our meats and cheeses??
(should I attach the obligatory photo)?
dog