Perspective.... A snip from the Ugly ES Daily, pre-fed announcement. Have we seen this before?? Snip of Ugly ES Weekly, pre-fed announcement. Have we seen this before??
I am long here, but did take profit on futures already. Just have TQQQ long.. risking some profits. Stop is below relative lows that nq made 62.75 13767.25 is resistance and area of interest for me. Above that can get shorting covering.
LRS = Low Risk Short. 4275 could base a bottom, so might warrant some caution, but ultimately I think we'll see at least 4260 by the Close. If 4260 doesn't hold - I'm not sure where this bottoms out on the day.
People we're not saying much today on the rally or anything, so I was just simple trying to get people active and see if anyone had something to add. yes buy1sell2 said short, but it was a 100+ point ES up move and I don't have the ability to trade the macro like that. He has a much wider risk range than most people here(even you commented on that). Market is clearly macro bearish we all know and agree with that. I was too timid and failed to get a good short entry higher up, so that is 100% my fault and could of been prevented. No denying that. I ended up flipping short and in my funded futures account, I kept getting stopped out in profit, but none the less collected 46 points and made $82.62 after commission(this is relevant because I am trading controlled so I can scale up efficiently and know what to expect) Yes, got stopped out of my TQQQ long on my account. Generally the markets are not that forgiving to short side (initially) with such a weak pop, regardless in did move up several times, I just chose to hold for more. However, with how bearish overall macro trend and larger charts are, it totally makes sense and I clearly played that one wrong. However, still profitable on that account as well and have an active short position on. As far as the size I trade. Yes, I trade small size as the risk capital I have is small and restrictions on accounts I trade is pretty tight. .
You certainly have contributed here helpfully, You often have stated "Trade Management" is Key. You are showing some mastery of that and appreciate your continued sharing on this forum. Thanks