ES Journal - 2019/2020

Yeah. About time to start building that floor.

 

out 2906 +20

 

There are a lot of "10's" on there though. For percent drops at least.

 

Notional on 1 MES is equal to 50 SPY. If you can change the recommendation from 10 SPY to 50 SPY, he can get started with a futures account. I personally think $5k account is sufficient to trade 1 MES. That's like asking someone to start with a $50k account and trade 1 ES only. No one really does that, do they?

Incidentally, there's a smaller SPY these days

 

ps - apparently
''short term 2987+ then 3120+ before new hedges.''

current 2920

 

current 2948

 

But I do.

90 points up from the lows....

 

And now we're 40 points down again.

If it's the same pattern as yesterday where we in fact first traded 90 points off the morning lows, we can easily make new lows again.

 

DNA-wise this drop is most like Aug 2015 which had 4 consecutive down days before snapback..

 

We probably sell off into the close, but that is still a good 3.5 hours away.