Can someone please explain to me the price action of the NQ/ES right before the open

Had a stop in by sadly didn't realize the stop was for RTH. Cleared a bit but still an extremely rattling way to start the day

I cannot argee more with trade management is key. Thats something i need to work on

 

Clearly need to revisit what was written a century ago...

 

That would make a shitton of sense

Fuck abe

 

LOL no shit!

I always hear Livermore ringing in my ears everytime "but its a bull market"

Another thing Livermore said was that sometimes the leaders will change. And that is what we are seeing now with the XLV XLY continually ramping the market higher, regardless of what the old leaders such as XLF and XLK are doing.

 

Cash leads futures, period. The pre-mkt dip buy wasn't manifest until the day-session began. The Fed is not a buyer of common.

 

This market is EXTREMELY WEAK AND VUNERABLE NOW tho due to how extremely over-elongated this move from 12,900 has become!!

I have built a huge short position already by scaling in shorts between 14,786 and 14,869,
and so as soon as the market drops merely 1% and touches 14,702 i will make an entire month's salary instantly!!

 

lol how many contracts are you holding short?

 

it rallied, the target was not the previous close, but the pivot point.

 

"huge"

 

The concept of "an entire month's salary" as a metric is new to me.