Back from walking the dogs. As a positive contribution for those who are trying to learn from ET forums, let me add: When trading the NDX: 1) Do NOT take positions against the direction of the largest components of the index 2) If you don't know what they are, please, look them up before you trade the NDX 3) Do NOT have an opinion or a prediction...instead have an entry point, a stop point, and use a proper allocation based upon your account size (ie: don't risk more than 2-5% of your BR on any one trade). Good Trading
Mes I agree, there is no need to pile on. In fact just the same as when I am skeptical of his profiable trades I dont see the need to offend when they're not profitable. No one is perfect, even on the internet and I personally take no glee in seeing anyone have a bad day, whether its real or not.
Thanks guys. Good for those who made good money today. You deserve it. My stops got me out when NDX broke above the then high (I think 1962). A loss of 6 NDX points today on this play. I shorted again (at around 4PM) with NDX at 1980. I put in just half intended position. I was complacent today, and I think the market is reminding me who the boss is. I do not argue with her, she is right.
Because I had a few PM's asking about "How I would exit my position" : Market took me out today. On the big opening, I raised my stop all the way up to just below yesterday's close. I didn't want the market to do an "oops" today I will enjoy the weekend flat and look for another opportunity to enter a trade.
Congrats! I think you did the right thing. Also why you did not go short? I added the same size to the 1/2 short size I put in at close yesterday. I did it at the open with the thinking of gap close and possibly down hill from there. This could be a reversal day. I just took 1/2 off for a 16 point NDX gain which removes my -6 point of yesterday and covers cost of stop for remaining 1/2 size.
Shorting the gap up of today is a no brainer. Anyone who did not thinking it will not close should not be trading.
Whats the point of calling it a no brainer and saying you shorted long after the move. The other trades you've posted you were quick to take profits around 5 points below where you shorted but today 15 points higher then where you shorted yesterday at the close you doubled down, and now that the markets 25 points off the high you tell us it was a no brainer?