I don't look at news or guidance. I only look at technicals and we'll see what happens. By the way, this is another reason I don't use a hard stop after RTH. The market is too thin and can take your stop out and come right back ---just like it would have last night.
Well, you do...but you just catch it in the charts. Same here. I saw the Qs at 4:25ish and went hunting for the news...found the AAPL halt about the same time CNBC tweeted. I don't doubt that someone can understand the full significance of news purely from technicals, but nor do I doubt it's helpful to be able to abstract a meaningful quantitative assessment of qualitative news. (Also, news is more significant on single names where I play)
Frisky, why don't you and Des just bug off and leave this thread to those who are really interested in what real people are doing and thinking as regards to ES. I do not have anyone on ignore but you two are in contention for the honor.
Well, I can understand B1S2's idea of trading without stops on swing/position...That became my bread-and-butter until this year, when the swings got too violent and I had to bail on one of my longest live trades, a month of an NQ long in Oct. But what I do not understand, Buy1Sell2, is why you would put a stop in during the RTH, but then remove it after RTH, and then replace it when the next RTH session starts? That seems counter-intuitive to me, because at that point you are just playing games with your own head, no? The "soft" or mental stop is just testing your risk-tolerance over a long term. But to put in a hard stop here and there after a long-term hold is already way in the red seems to obliterate the idea of position-trading in the first place? I dunno', I'm starting to finally get a better feel for the current volatility with day trading. Maybe you can give it a shot? Today I focused on just one sim account, and come hell or highwater would just deal with the outcome of the day. It got pretty dicey after I was down $7K, but finally came out a winner... The max I went on some trades was 8 contracts per trade, with is about my tolerable limit with a $25K account. It is really pushing the limits, but it IS doable on daytrading with some brokers. Not recommended, and CERTAINLY cannot be done on overnights without a 7 figure, or high-6-figure account. But you get the idea. P.S. Ignore the "number of trades" row, NT7 is silly with that. It was 72 contracts RT, which at an average of $4.20 per RT is ~$300 commies.
I place a stop during RTH because the market is deep and I feel the support and resistance area are stronger and based more on reality. By the way, I am getting what I asked for earlier---a pullback overnight. This is what I would much rather have going into the continued unfolding of the huge move.
Pullback here overnight is just what the doctor ordered to give a springboard to run up to 2525/30 and beyond. Looking to buy all dips for a while on a very short term basis
Should be some more pullback before the run back up and I like that very much. Yesterday's RTH activity was bullish and so I look for a bounce off of this pullback later in the overnight or in the early part of RTH.
AAPL writing has been on the wall for a long time. Hell for the past 2 years United State's retailers have had to incentivize iPhone transactions with gift cards just to keep demand up. 10 years ago iphone was $300-$400 and now $1000-$1,200. Consumers simply won't support upgrading as often after a 200% increase. And how many sweatshop workers in China can afford a $1000 device? To me AAPL is a non event because it has now become a luxury item to most with many cheaper alternatives.