Buying inverses premkt today 11May -- go Bears

Discussion in 'ETFs' started by KCalhoun, May 11, 2020.

  1. KCalhoun

    KCalhoun

    I hope it's useful for me to post and explain both examples of winning trades as well as stops. I have both, like any trader.

    It's great to hear constructive criticism and insights from you guys, I'm trying to improve my trading skills as well... it's a process.

    The great thing about being on a forum is the dialogue with traders, because hopefully we can help each other. Many thanks.
     
    #31     May 11, 2020
  2. maxinger

    maxinger

    when you bought those shares / etf, don't you think it was a little too early?
    During the European session, the Europeans were shorting DAX, ES, NQ, RTY ( and copper, GBP...) and the downforce momentum was rather strong.

    Subsequently NQ started to reverse direction and go up few minutes before US stock market opened.
    It took quite sometime for ES, RTY to go up.
     
    #32     May 11, 2020
  3. KCalhoun

    KCalhoun

    Good question, I don't follow the dax or es, I follow SPY premarket, which was dropping premarket. I put on small size inverses premarket, with the intention of adding in market if they ran, which they didn't, reversing instead. That's why I start small.

    Destriero -- that's correct, I bought premarket and took stops from premarket buys subsequently in market later. As a side note I do occasionally scale in and out all during pre and post market in extended hours. Trying to communicate several things in one sentence
     
    Last edited: May 11, 2020
    #33     May 11, 2020
  4. hafez50

    hafez50

    The 3x etf's are tough right now . To make real money you need several days of follow thru and were not seeing that .
     
    #34     May 11, 2020
    ElCubano and KCalhoun like this.
  5. KCalhoun

    KCalhoun

    Makes sense, thanks.... will wait for a 2-3day trend. Reason for entries today was uniquely strong premkt price action, eg 8 point TVIX run, gap up FAZ . Will also focus on momentum biotech runners like NVAX MRNA


    FWIW I'm still holding several k worth of inverses overnight tonight. Not sure how to best communicate my trades here, I do a hybrid of both swing and day trades. Here's my positions in my main account; mostly small size down a bit though:

    fdly11mayport.jpg
     
    Last edited: May 11, 2020
    #35     May 11, 2020
  6. ElCubano

    ElCubano

    I enjoy Ken's post and his great attitude. Keep it up big guy!!
     
    #36     May 11, 2020
    KCalhoun likes this.
  7. ElCubano

    ElCubano

    only follow through has been on the long side. Everyday all day. Short side no follow through and have to be exact like a sniper.
     
    #37     May 11, 2020
    KCalhoun likes this.
  8. hafez50

    hafez50

    This whats throwing everyone off . I was at Costco yesterday and i was like a ghost town and my state is open . It naturally makes you super bearish . I mean business and attitudes have changed. Earnings are going to be hurting for a yr or more . But right now it doesn't matter
     
    #38     May 11, 2020
    KCalhoun likes this.
  9. Yeah , my supermarket was empty late yesterdays too. People are obviously not eating anymore
     
    #39     May 11, 2020
    MKTrader likes this.
  10. KCalhoun, the Educator says
    "Good question, I don't follow the dax or es, I follow SPY premarket,"

    lemme educate ya, the SPY is the ES. Same thing bro, and talking about it like it was something different aint swift
     
    #40     May 11, 2020