Ladies, crybabies and daughters of the B1's noble defense league, before I share my incredibly deep wisdom on the debate, a question for B1: Is there an unmovable stop loss on this misguided long position? And by unmovable I mean in case the market moves ANOTHER 90 points against you, are you going to honor it and bite the bullet? (that was actually two questions) Now let's get to the real stuff: 1. A shitty trade is a shitty trade. Everyone does that sometimes even profitable traders, but the questions are: a/ How often do you do that? b/ Are you able to learn from it and not do that again? 2. Don't kill the messenger and specially not with off topic BS. 3. A public journal by nature will attract criticism, if you can't take the heat.... 4. An objective criticism by definition is not public shaming. I looked them up, I am not kidding. 5. If you remove your stop loss when the market moves 90 points against you because you rather be right than profitable, you deserve a public beating, not shaming. Twice... 6. As noted by others, we have been in a sideways market where both bulls and bears make money, assuming they do take profits. 7. A public journal also attracts talent. When you have Spooz, Zenemini and Pekodrom (or wtf that bastard's name is) posting very good insight, you might want to listen to them and move your stop loss to break even at least. 8. Only imbeciles are happy when the market keeps moving against them... I think you guys got the picture and I have just realized I am on vacation, so arrivederci...
So, I'm still short and expecting a chance to cover at 2610. However, I am also in sell the rally mode, and I have 30+ points open trade equity in my current short. So, what that means for me, is I will be looking to add to the short if price action so indicates, and while I will cover at 2610, any additionals will be held for lower targets, of which there are many. Looking for 2632 to 2642 as potential short sale levels. Those can and do change if price continues to fall without a reasonable retrace. As always, T&S and PA dictate my trigger pulls. As always, I abide by my stops. GLTA.
Truth be told, I took low risk entry day trade Long on YM Tuesday.... Been looking at YM as it`s providing much cleaner setups with a cleaner chart... I took 3rd test of 23,800 with a tight stop.. came back later in day & target was hit at 24,000 on a 5 lot.... I didn`t post as it was not in real time nor was it ES. I may be sticking with YM here for a while until ES cleans itself up or a cherry presents itself. Good Trading Fellas...
We are trying to get back to my 2625 to2630 area before RTH open. We may make it or close so we can open in that area and move higher.
IMO at most we get back up to test overnight high then down to 2600 or below. From what I follow on the daily, the uptrend is broken.
I don't know if that is my opinion or not, but it certainly is my hope. If 2010 trades first, then halfway back to yesterday's high would be 34.25, and the overnight high was 36.25. A 2614 low would put the globex high right at the HWB level.
9:45 EDT so have to start considering the gap doesn't fill today and bounces fizzle 2618.50 to 20, imho