Your trades are all complicated and stuff. Stop limit here, add there, trail stop, if this tick, then that tick. Seriously, very nice trading there. As for EMG, I need to resubscribe to that ES Journal just so I know when to initiate those longs/shorts for 10 points!
Joker! I realize I have a huge mental mess and I'm certainly not trying to tell anyone how to trade or anything (even if I bug you about your size, that's just a guys' thing ) But frankly, knowing that somebody got long or short at x price leaves me cold (piggybacking/fading is not my thing Edit: <u>nor am I saying it's anybody's thing</u> ), I'm more interested in the thought process behind the trades (which, incidentally is why I liked your journal so much), so in case some new traders are trying to learn what NOT to do , there's my small contribution. [Continued from previous post...] :52 and 35 minutes later, yes, the Breakevener attacks again! Edit: I think that, apart from the weak test of the HOD in equities, we didn't get more of a pop because intraday traders have already closed their positions for the day and thus there were few stops (rather than them being a few ticks higher).
I've never had any interest in piggybacking anyone else's trades (until this week, but that's a separate story related to the 6E), but you should know that when you're in communication with other traders and more than one of you discover you took the same trade, and all of you talk loudly to the trade at once, it tends to push price more quickly in your preferred direction
On my 1st short, I had conflicting signals with my indicator. By the time I took the trade, I realized I was too close to a possible reversal, and killed the trade for a small profit. At this point, my mistake was not then looking for a long reversal, instead I was disgusted with myself for missing getting in early and did not look at the charts. When I finally looked again we had just bounced off the high of the day. At this point, I took another counter trend trade short since I felt I could get a small profit before 12 PST when the pit traders go home, and I was willing for this to be my last trade if I was wrong and to accept the fact of the risk of losing my profit for the day and turning it into a loss day, but with resolve that if the trade did not work out, I was not going to revenge trade. Well, the trade did in fact work out. On ES I felt we were in a small range in the afternoon, but while I was right on the support, in truth it looks like the market decided to grind higher I assume due to trapped shorts that did not want to take a loss. I was actually thinking about taking a long on the ES, but since I was already trading the CL, I did not do that. I kept thinking the ES might fall further on profit taking before going higher kind of like yesterday, but instead it never did do a good pullback, and buying a small long would have been profitable.
Good morning everyone. Careful with the "good for the economy --> good for the dollar --> bad for the euro/commodity inflation" Edit: i.e. we may say some disconnect between oil and the ES and the EUR. Good luck/skill to everyone.
Another be long at .51 - sorry, I was in and out before I had time to post it. Gold making new highs following equities, but oil seems unresponsive - I don't think it's going to tank either, many buying points below (now it craters to 78 )
Looks like the third time would have been the charm Pending home sales index will be published today at 12:30 EST; consumer credit at 2:00 EST. Everybody in STFU-and-trade mode or simply not seeing trades in this chop?