btw .. my books so far are on Tech Analysis .. just now, im writing one on trading and trade optimization .. but its v tricky how to write and still have room to preserve somethings u know that cant be given... lets see if i can get a US publishing and distribution house interested ..its more hard than you think working from here .. but I'll do it and do it this year ... thanks mishwar
for all practical purposes, my material needs are more than satisfied .. but u know some things do lurk arnd .. 2 homes and 1 more in the works .. and a car and one under consideration .. i dont have too much to lust after here ... but i know there is so much more exciting times to come ... esp since i dont have trading infrastructure .. so i have decided either i'll be trading FT with state of the art i/structure or move to NY Chicago or London and have loads of fun ... i know i just have to land there after that i dont have any doubts ... will hopefully show why im so confident the coming days and weeks ... till then even $ 61000 is an addition to my paltry material needs ... when one has no anxiety trading is so much fun and its a very spiritual experience Thanks mishwar
ive never tracked futures after mkts .. whats the wildest move you've personally seen ? this will help me plan my trading. thanks mishwar
i have 50 contracts open.. i just checked the charts .. probably not a good idea to leave any thing to chance. just not my style .. but the weekend joy was worth it .. so ready to take a hit but i think i will escape unhurt since i already have a $ 6,800 + cushion just on this trade. still, not v comfy since if you read my posts, i like to pick the bottoms perfectly ( i caught the bottomest point in the last 3 days trading sessions. my biggest profits are from tht point. But one thing i'll make sure. I'll try to close out the trade if poss on Monday first thing. Trend line may break and some indicators not v healthy. thanks mishwar
a request again .. can someone tell me what is the biggest move you've seen post normal market closing so that i get an idea of wht kind of stop (if any) is to be kept ? Thanks mishwar
Are we talking about "meteorite is going to hit Earth/a nuke went accidentally off" aftermarket move or just average overnight up/downgap? If you read my journal of overnight gap study from January, there were 2 gaps of 50 YM points and they were very rare occurances. So I would say trading ES a 5 point stop loss would do it for the average afterhours movement.
Occasionally I have taken an overnight position after a 100+ points move on the Dow. This anticipates a bounce ie a reversal of direction. Usually it is successful and I expect to make 30+ points before the markets re-open. The biggest stop you would need is probably about 50 points imho.
I have listed some of the points i keep in mind while trading. will try to reveal as much as possible here but the core aspects cannot be discussed here. thanks mishwar