<i>"If you didnt make money this week you are, how you say, not good."</i>
Well, we hear a lot of talk about all the money made in this board. Only thing is, we don't see many blotters in P&L thread ($RM excepted) to walk the talk.
Volatility is nice, I'll take that over dead markets any day. But... I got pounded out of two dozen shorts this week at any reasonable stop before markets actually tanked.
If you trade the ER or ES, you got pounded out of your stops (long or short) plenty of times. Period, end of story.
Instead of price action failing and falling from the same fib grids, clusters, trend lines, prior highs - lows, 2x tops and bottoms, pivot values, etc (stuff that all veterans see) like they do in normal markets, those same magnets got double, triple and quadruple thrusted.
Today I was short three times in the afternoon near highs before the watershed. I knew it was coming. There were half-dozen tech layers clustered right there, screaming short side. But the tape kept popping and popping and popping before it broke like we knew it would.
That's the difference between now and high volatility like July and August had. Tapes would break, coil sideways, break and coil, then break and collapse. These days they chop and chop and chop thru a wide sideways range between surge moves.
I bought this ES tape all the way from session lows to afternoon highs. +2pts, +4pts and then -2pts, -2pts, -2pts as it chopped downward before surging upward again. ER was similar but better than ES, NQ was much smoother than both. Individual stocks can be real hairy, especially limited volume ~ O/I issues.
Yes I made money. I can make money every day, any day. It was one helluva struggle, even knowing which way the tape was going every swing. Which direction next never surprises me... I can measure = see them all. It's the deep pullbacks thru stops that make the difference between -2pts or -3pts and +4pts to +8pts closed trade result.
If everyone just gutted this market like a fish, please share the results with us in P&L 2007 thread. Everyone's invited. I saw a tape that was radical in movement from points A to B to C to D. The turns were predictable, as usual. Holding the trade thru extreme whipsaw noise is another chore altogether.
Viva la volatility, but too much of a good thing is not always a great thing
